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Journalist
Sead Fadilpašić
Journalist
Sead Fadilpašić
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Why Trust Cryptonews
First Digital, the group behind the FDUSD stablecoin, has announced a strategic partnership with Ledger Enterprise TRADELINK, the major wallet Ledger’s off-exchange to enable global market makers, institutional investors, and asset managers to leverage FDUSD for off-exchange settlements.
Ledger designed the Enterprise Tradelink for institutions who’re looking for regulatory-compliant digital asset trading with reduced counterparty risk.
It allows asset managers to trade with their preferred liquidity providers while keeping assets in custody off-exchange, said the press release shared with Cryptonews.
Additionally, Sebastien Badault, Executive VP, Enterprise at Ledger, commented that the integration expands the options available to institutional traders for efficient off-exchange settlements.
Furthermore, international markets will benefit from the FDUSD integration with Ledger Enterprise Tradelink thanks to its enterprise-grade security and regulation-friendly environment. Also, it improves trading and settlement processes for global institutional traders, and improves control, ownership, and operational efficiency in digital asset trading.
According to First Digital CEO Vincent Chok, “institutional adoption of digital assets hinges on trust, security, and efficiency.” This latest integration “reinforces FDUSD’s position as a reliable settlement asset.”
“By reducing counterparty risk and enhancing settlement efficiency, we’re paving the way for a more robust and institutional-friendly digital asset ecosystem,” Chok added.
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$7.8 Billion in Market Volume
First Digital USD is a fully 1:1 backed stablecoin issued out of Hong Kong, with support for Ethereum, BNB Chain, Sui, and Solana.
The latter has been added just recently.
Moreover, the company’s reserves consist of liquid cash and cash equivalents held in segregated structures, the team said. Also, independent third-party auditors publish monthly attestation reports confirming the FDUSD reserves’ integrity.
FDUSD is the 7th stablecoin per market capitalization, which has surpassed $2.1 billion. Its market volume over the past 24 hours is $7.88 billion – the third highest, behind USDT and USDC.
Meanwhile, in early February 2025, First Digital joined hands with FOMO Pay, a licensed Major Payment Institution in Singapore and Hong Kong, to add FDUSD among FOMO Pay’s payment solutions on Ethereum and Solana.
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