Information, not investment advice. Facts are copied from cited issuer and regulator documents with retrieval dates; anything we could not verify is marked unknown. Nothing here is a recommendation, ranking, or eligibility determination about you.
USD stablecoin. Issuer: FD121 (BVI) Limited (financial technology company, not a bank); reserves custodied by First Digital Trust Limited (Hong Kong). Official page. 12 fields verified, 4 unknown, 0 disputed.
As of 2026-10-25, who can invest for FDUSD: Industry players, financial intermediaries and professional investors who meet criteria (no direct retail sales), per First Digital Labs.
As of 2026-10-25, we could not confirm this for FDUSD in an issuer or regulator document.
As of 2026-10-25, redemption limits or gates for FDUSD: Redeemable 1:1 for USD by FD121 (BVI) Limited, subject to any suspension and other rights in the FDD Terms, per First Digital Labs.
As of 2026-10-25, we could not confirm this for FDUSD in an issuer or regulator document.
As of 2026-10-25, latest reserve / holdings report for FDUSD: https://firstdigitallabs.com/transparency, per First Digital Labs.
| Field | Value | Status | Source | Note |
|---|---|---|---|---|
| Issuer | FD121 (BVI) Limited (financial technology company, not a bank); reserves custodied by First Digital Trust Limited (Hong Kong) | verified | First Digital Labs, retrieved 2026-10-25 | |
| Product type | USD stablecoin backed by cash and cash equivalents (US Treasury bills, cash, fixed deposits) | verified | First Digital Labs, retrieved 2026-10-25 | |
| Regulator | Not licensed as a stablecoin issuer: issuer says it is working to secure authorisation. Custodian First Digital Trust Limited is a Hong Kong licensed TCSP and registered trust company | verified | First Digital Labs, retrieved 2026-10-25 | |
| Blockchains | Ethereum, BNB Chain, Solana, Sui | verified | First Digital Labs, retrieved 2026-10-25 | |
| Open to US persons (per issuer) | No | verified | First Digital Labs, retrieved 2026-10-25 | Not intended for US persons; minting and redemption not offered to persons in the US or acting for US persons |
| Who can invest | Industry players, financial intermediaries and professional investors who meet criteria (no direct retail sales) | verified | First Digital Labs, retrieved 2026-10-25 | |
| KYC required | Yes | verified | First Digital Labs, retrieved 2026-10-25 | Must become a client and pass AML/CTF checks to redeem |
| Minimum initial investment | Unknown | unknown | Not stated (checked 2026-10-25) | |
| Subscription / mint fee | Unknown | unknown | Not stated (checked 2026-10-25) | |
| Redemption fee | Unknown | unknown | Not stated (checked 2026-10-25) | |
| Redemption settlement | Unknown | unknown | Not found in public issuer documents reviewed | |
| Redemption limits or gates | Redeemable 1:1 for USD by FD121 (BVI) Limited, subject to any suspension and other rights in the FDD Terms | verified | First Digital Labs, retrieved 2026-10-25 | |
| Circulating supply (issuer report or issuer contract) | USD 325,042,000 as of 2026-09-30 | verified | First Digital Labs, retrieved 2026-10-25 | Tokens issued and in circulation USD 325.042M; reserve assets USD 326.311M (89.16% T-bills, 10.26% cash, 0.58% fixed deposit) |
| Reserve / holdings report type | Monthly independent attestation | verified | First Digital Labs, retrieved 2026-10-25 | |
| Latest reserve / holdings report | https://firstdigitallabs.com/transparency | verified | First Digital Labs, retrieved 2026-10-25 | |
| Report as-of date | 2026-09-30 | verified | First Digital Labs, retrieved 2026-10-25 | Latest listed report: Sep 2026 |