Hong Kong-based stablecoin issuer First Digital Trust announced on Thursday that it is expanding its FDUSD token to the Solana network.

First Digital USD Expands to Solana

First Digital USD (FDUSD), the fourth-largest stablecoin by market capitalization issued by First Digital Trust, is now integrating with the Solana blockchain. This move follows the token’s previous rollouts on Ethereum and BNB Chain (formerly Binance Smart Chain).

“We’re thrilled to share that $FDUSD will be available on the Solana blockchain, bringing faster, more efficient transactions to our users and expanding our reach across the digital asset ecosystem.”

In an October 30 announcement, the team behind FDUSD highlighted Solana’s transactional output as an “ideal solution for real-time payments and settlements.” The integration with Solana is seen as part of a broader strategy to build a versatile and resilient stablecoin ecosystem. However, the team did not specify the exact launch date for FDUSD on Solana.

FDUSD is now supported on Ethereum, BNB Chain, Sui Network, and soon, Solana, making it more globally accessible and liquid than ever before.

FDUSD’s Rapid Expansion Across Blockchain Networks

Launched in 2023, FDUSD is issued under Hong Kong’s digital asset regulations and is backed by U.S. Treasury bills and bank deposits to maintain its price stability at $1. The stablecoin is already available on Ethereum, BNB Chain, and Sui Network.

Following its launch, Binance started trading in Bitcoin (BTC) and Ethereum (ETH) paired with FDUSD, attracting traders with zero fees. Consequently, FDUSD quickly rose to become the fourth-largest stablecoin, trailing behind Tether (USDT), Circle (USDC), and MakerDAO (DAI), reaching a market capitalization of over $2.5 billion as of the latest data.

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