The integration of the FDUSD token on the Sui blockchain is aimed at making it more embedded in the decentralized finance space, following its availability on Ethereum and BNB Chain, as highlighted by First Digital's CEO.
First Digital Trust's CEO, Vincent Chok, emphasized the company's initiative to boost FDUSD usage among decentralized finance users, as part of the expansion to the Sui blockchain.
FDUSD, compliant with Hong Kong's digital asset regulations and backed by U.S. Treasury bills and bank deposits, quickly gained prominence as the fourth-largest stablecoin globally, amassing a market capitalization of $3.3 billion within a year.
"Sui is an up-and-coming network very supportive of the DeFi space, and we want to grow together as a new stablecoin," mentioned Vincent Chok, illustrating the collaborative approach towards stability and growth.
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