First Digital USD (FDUSD): D-Score 25/100 — Centralized Leaning BlockIndex D-Score: 25/100 (Centralized Leaning). First Digital USD (FDUSD) is a Layer 2 cryptocurrency using Other consensus. First Digital USD (FDUSD): Regulated, Hong Kong‑issued reserve-backed stablecoin with multi‑chain deployment and institutional focus. Source: https://blockindex.ai/coin/fdusd · Data by BlockIndex.AI · Updated 2026-06-19 D-Score breakdown (0-100, higher means more decentralized) Component: Score: Overall D-Score: 25: Node distribution: 0: Initial distribution: 0: Governance: 16: Age and history: 9: Autonomy: 0: Key facts - Layer: Layer 2 - Consensus: Other (N/A) - Launch: Other (2023) - Founder: Vincent Chok, Gunnar Jaerv - VC funded: No - Max supply: N/A - Circulating: 352,516,532 Market data (as of 2026-06-19) - Price: $1 - Market cap: $351.76M - 24h volume: $211.42M - 24h change: -0.02% · 7d change: +0.09% About First Digital USD (FDUSD) is a regulated, fiat-backed stablecoin issued by First Digital Trust and First Digital Limited, launched on May 29, 2023 in Hong Kong. FDUSD was created to provide a compliant, auditable, and institutionally-oriented digital representation of the U.S. dollar for on- and off‑ramp liquidity, cross-border payments, and integration across both centralized and decentralized finance rails. The issuing trust emphasizes custodial reserve arrangements and periodic audits as the core stabilizing mechanisms that underpin the 1:1 peg. The project positions itself as a bank-centered stablecoin alternative designed to meet exchange, institutional custody and regulatory expectations in Hong Kong and in jurisdictions where partner exchanges operate. Public leadership is clearly identified in source materials, with Vincent Chok named as CEO and Gunnar Jaerv as COO, and the issuer described as a trust/corporate entity rather than a community-run protocol. Technically, FDUSD is a multi-chain token rather than a standalone blockchain: token contracts are deployed across Ethereum (ERC-20), BNB Chain (BEP-20), Solana (SPL), Sui and Arbitrum (L2). This multi-chain deployment strategy is intended to maximize accessibility—allowing market participants to choose chains optimized for throughput, gas economics, or composability depending on use case (for example, Solana for high throughput, Arbitrum for L2 scaling on Ethereum). Because FDUSD is a token issued on existing blockchains, it inherits the security and consensus properties of its host chains rather than operating its own validator network. The public record includes a partial contract snippet (0xc5f0...E16409) and listings on major market-tracking platforms, which support transparent on-chain verification via explorers on each host chain. In practice, FDUSD’s primary use cases are liquidity provisioning on exchanges, collateral and settlement in DeFi applications, remittances and programmable payments via smart contracts. The token’s economic design is anchored to full-reserve custody and 1:1 redeemability; the issuer states zero mint/redemption fees and claims to maintain highly liquid reserves under custodial arrangements. Market metrics from CoinMarketCap and related snapshots indicate significant adoption in centralized markets: a circulating supply reported around 518.42M FDUSD, market capitalization in the hundreds of millions of dollars, and very large daily traded volumes—illustrating strong exchange integration and utility for USD-denominated trading pairs. Governance and organizational control are centralized: FDUSD is issued and managed by a regulated trust (First Digital Trust / First Digital Limited) with off-chain corporate governance rather than an on-chain DAO. There is no evidence of token-holder voting, on-chain treasury governance, or decentralized decision-making in the provided materials. No premine, public initial percentage (PIP) metrics, or developer‑fund allocation figures are present in the source content; the token is described as an institutional issuance rather than a community-issued or fair‑launch asset. Security incident reporting in the provided files shows no documented hacks or chain freezes. The issuer’s regulatory posture and audit claims are central to FDUSD’s risk narrative and are emphasized as mitigating elements relative to unregulated stablecoins. Looking ahead, FDUSD’s roadmap emphasizes continued multi-chain integration, exchange listing expansion, and maintaining audited reserve practices to preserve peg confidence. The primary operational risks identified in the sources center on reserve management and regulatory changes—typical for trust-issued stablecoins—while technical risks relate to smart-contract integrations across multiple host chains and potential interoperability/bridge mechanics. Overall, FDUSD is presented as a professionally issued, compliance-first stablecoin focused on institutional usability and broad on-chain accessibility through multi-chain deployments. Links - Website: https://firstdigitallabs.com/ - Whitepaper: N/A - GitHub: N/A --- About the D-Score: BlockIndex.AI rates decentralization from 0 to 100 across node distribution, initial distribution, governance, age and history, and autonomy. Methodology: https://blockindex.ai/dscore