First Digital Trust, a Hong Kong-based stablecoin issuer, said on Wednesday that it will expand its stablecoin FDUSD to the Sui blockchain, following its launch on Ethereum and BNB Chain.
Vincent Chok, CEO of First Digital, said in an interview that the expansion is part of First Digital's efforts to increase the use of FDUSD by DeFi users.
Issued under Hong Kong's digital asset rules and backed by U.S. Treasury bills and bank deposits to keep its price anchored at $1, FDUSD has become the fourth largest stablecoin after Tether's USDT, Circle's USDC and MakerDAO's DAI, with a market value of $3.3 billion since its launch last year. (CoinDesk)