First Digital USD

First Digital USD (FDUSD) is a fiat-backed stablecoin whose stated purpose is to maintain a value of one US dollar per token at all times. It is designed for anyone who wants to transact, store value, or move money across blockchain networks without exposure to the price swings common in other digital assets. The project positions itself as a solution to the friction and cost of traditional payment rails by combining dollar-denominated stability with blockchain-based settlement.

Each FDUSD token is intended to be backed one-for-one by cash and cash equivalents held in reserve, meaning holders can theoretically redeem tokens for an equivalent number of US dollars. The token operates across several blockchains — including Ethereum, BNB Chain, Arbitrum, Sui, and TON — so settlement mechanics depend on whichever network a given transaction uses rather than a single consensus algorithm. The token itself carries no governance or utility function inside a broader protocol; its role is simply to represent a dollar claim on chain.

The data stored for FDUSD does not include a protocol fee stream, so there are no fee-origin, fee-recipient, or fee-retention figures available on this page. The project describes its transactions as low-cost, but no specific fee rates or revenue figures are recorded here. The absence of a fee stream means that fee-based measures commonly found on this site — such as fee yield or revenue multiples — are not applicable to this asset.