First Digital USD Launches on The Open Network Blockchain

Today, First Digital Group, a digital asset custodian and trust services group in Asia, announced the native deployment of First Digital USD (FDUSD) on The Open Network (TON) Blockchain. This integration aims to deepen onchain liquidity, unlock new use cases, and extend the availability of FDUSD across TON’s ecosystem and community. The announcement was made here.

Extending FDUSD’s Reach

FDUSD joins TON’s high-speed, scalable, and cost-efficient blockchain to meet the rising demand for accessible and multi-chain compatible stablecoin solutions. By leveraging TON’s high-performance capabilities, FDUSD empowers users with new opportunities, fuels liquidity growth, and broadens stablecoin use cases within the ecosystem.

This integration solidifies TON’s position as a leading blockchain for stablecoin transactions. By extending access to regions where TON already has a strong community, FDUSD enhances liquidity and encourages further adoption.

Vincent Chok, CEO and Founder of First Digital, stated, “As digital payments evolve, accessibility and ease-of-use are important. By integrating FDUSD into TON’s thriving blockchain and its seamless integration with Telegram, we are delivering a fluid, dependable and universal stablecoin that simplifies onchain transactions to the level of everyday communication.”

FDUSD Powers Stablecoin Liquidity on TON Protocols

TON serves as the exclusive blockchain infrastructure powering Telegram’s vast ecosystem of Mini Apps. The ecosystem’s social, finance, and payments decentralized applications (dApps) are set to create unique opportunities for FDUSD. As an enterprise-grade stablecoin, FDUSD enriches the ecosystem with a reliable and universal stablecoin trusted for transactions within TON’s ecosystem.

At launch, FDUSD will be accessible on TONCO, the first decentralized exchange on TON with concentrated liquidity, and all major wallets including TON Wallet, Tonkeeper, and MyTonWallet. This move enriches the ecosystem with reliable onchain liquidity for decentralized finance (DeFi) users. Businesses and institutions can access FDUSD on TON by opening an account to directly mint via First Digital Labs, offering a seamless on/off-ramp for fiat-to-FDUSD conversion on TON.

Max Crown, CEO of TON Foundation, commented, “Bringing FDUSD to TON is another significant step in our journey to making stablecoins a part of everyday life. Now, anyone can send and receive FDUSD on TON Blockchain and within the ecosystem, making onchain transactions as quick and easy as sending a message.”

FDUSD is issued by First Digital Labs, the brand name of FD121 Limited. It is backed on a 1:1 basis by one U.S. dollar or assets of equivalent fair value, held in segregated accounts of regulated financial institutions globally. Independent reserve audits are published monthly. FDUSD is currently available on Ethereum, BNB Chain, Sui, Solana, and Arbitrum.

Why This Matters: Impact, Industry Trends & Expert Insights

The launch of First Digital USD (FDUSD) on The Open Network (TON) Blockchain marks a significant step in expanding the reach and utility of stablecoins within decentralized ecosystems. This integration is poised to enhance liquidity and broaden stablecoin applications on TON’s scalable infrastructure.

A recent Ainvest report highlights that stablecoin adoption is accelerating significantly, driven primarily by institutional backing and integration with traditional finance. This aligns with FDUSD’s deployment on TON, as it aims to deepen onchain liquidity and extend stablecoin use cases within TON’s ecosystem.

As per insights from the European Central Bank, stablecoins are at a critical juncture with the potential to significantly transform global payments. This supports FDUSD’s launch on TON as a move to enhance financial inclusion and improve payment infrastructure globally.

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