What could affect the price of FDUSD?
FDUSD is caught between growing adoption opportunities and regulatory challenges.
- Regulatory Scrutiny – If FDUSD doesn’t meet the EU’s MiCA rules by 2026, it could lose access to European markets (Cryptomus).
- Exchange Changes – Binance removed some FDUSD trading pairs recently, which might reduce trading activity in the short term (Gate.io).
- Expanding Blockchain Presence – FDUSD is now integrated with TON and Arbitrum blockchains, aiming to reach Telegram’s 900 million users and grow decentralized finance (DeFi) use (TON Blockchain).
In-Depth Look
1. Regulatory Compliance Risks (Potential Downside)
What’s happening:
The European Union’s new MiCA regulations, starting in March 2026, require stablecoins like FDUSD to be fully transparent about their reserves and have proper licensing. FDUSD isn’t fully compliant yet, which could mean it won’t be allowed in Europe’s $1.8 trillion crypto market. Some stablecoins that don’t comply, like TUSD, are already being removed from major European exchanges.
Why it matters:
If FDUSD can’t meet these rules, it could lose about 15% of its potential market, putting pressure on its current $1.09 billion market value. On the bright side, First Digital conducts monthly audits and keeps reserves separate, which may help it get regulatory approval more easily than some competitors (First Digital Labs).
2. Changes in Exchange Liquidity (Mixed Effects)
What’s happening:
Binance, one of the largest crypto exchanges, removed 5 FDUSD spot trading pairs in June and 4 margin pairs in August due to low trading volume. This follows a 23% drop in FDUSD/BTC trading volume this year. Still, FDUSD remains Binance’s third most-used stablecoin, accounting for nearly 9% of its $1.25 trillion trading volume in September.
Why it matters:
Fewer trading pairs might reduce casual trading activity, but FDUSD’s strong use by institutions and popularity in Asian markets (CoinGecko) help balance this out. Keep an eye on the price difference between FDUSD and USDT—if it grows beyond 0.3%, it could signal liquidity problems.
3. Growth Through Blockchain Integration (Positive Outlook)
What’s happening:
In July, FDUSD became available on TON blockchain, allowing users to send it directly through Telegram chats, which has 900 million users worldwide. FDUSD also launched on Arbitrum in June, increasing its presence in DeFi. The total value locked (TVL) in FDUSD pools grew 37% in the third quarter.
Why it matters:
Telegram’s easy-to-use platform could help FDUSD become popular for sending money across borders, which is expected to make up 12% of global payments by 2030 (Keyrock). Even a small increase in this market share could add billions to FDUSD’s value.
Conclusion
FDUSD’s future depends on successfully expanding across multiple blockchains while meeting regulatory requirements. Although MiCA rules pose a challenge by 2026, FDUSD’s integration with TON and its transparent reserves offer strong growth potential. The key question is whether FDUSD can use Telegram’s massive user base to make up for reduced exchange trading and compete with other stablecoins like USDC in new markets.
What are people saying about FDUSD?
The conversation around First Digital USD (FDUSD) is a mix of strategic moves and routine exchange updates. Here’s what’s trending:
- Traders are watching for dips around $0.9972 as low-risk buying opportunities.
- Over $10 billion in FDUSD has been traded, showing strong interest from big investors.
- FDUSD is now integrated with the TON Blockchain through Telegram’s platform.
- Some margin trading pairs involving FDUSD have been removed, causing minor concerns about liquidity.
In-Depth Look
1. Scalpers See Opportunity in Tight Price Range
@Byreal notes a “buy zone” between $0.9975 and $0.9972, with a target price of $0.9992.
What this means: Traders are optimistic because FDUSD’s price stays very close to $1, with only about 0.03% fluctuation. This tight range suggests there’s good liquidity, meaning it’s easy to buy and sell without big price changes, even with other stablecoins competing.
2. $10 Billion Traded Signals Institutional Confidence
@FDLabsHQ highlights that over $10 billion worth of FDUSD has been traded, driven by real demand.
What this means: This high trading volume is a positive sign that large investors and institutions trust FDUSD. Its daily trading volume of $8.7 billion is comparable to many mid-sized cryptocurrencies, showing FDUSD is becoming a key player in liquidity and trading strategies.
3. Integration with Telegram’s TON Blockchain Expands Use
@ton_blockchain announced that FDUSD is now live on the TON Blockchain, which is used by over 900 million Telegram users.
What this means: This integration makes FDUSD more useful by allowing people to use it directly within Telegram’s payment system. Since TON supports six different blockchains, this could help FDUSD reach a wider audience and increase everyday use.
4. Removal of Some FDUSD Trading Pairs on Gate.io
Gate.io announced the delisting of five FDUSD spot trading pairs on June 6th.
What this means: This is a routine update to remove low-activity trading pairs and doesn’t affect FDUSD’s overall stability. The stablecoin still maintains a strong peg near $0.998, so this change is neutral in impact.
Conclusion
Overall, the outlook for FDUSD is positive. Its growth is supported by expanding use across blockchains and strong trading volumes from institutional investors. However, traders should keep an eye on liquidity in FDUSD’s trading pairs with other cryptocurrencies. The adoption rate of FDUSD on the TON Blockchain through the end of 2025 will be an important indicator of how well it’s being used in real-world applications, especially through Telegram’s large user base.
What is the latest news about FDUSD?
FDUSD is managing challenges from Federal Reserve rate cuts and DeFi security issues while growing its presence in Telegram’s ecosystem. Here are the key updates:
- Fed Rate Cut Reduces Revenue (September 24, 2025) – FDUSD faces an annual revenue loss of $2.92 million due to lower Treasury yields.
- Venus Protocol Recovers $11M FDUSD After Attack (September 8, 2025) – Quick action following a phishing scam helped protect users and maintain trust.
- FDUSD Launches on TON Blockchain (July 28, 2025) – FDUSD is now integrated with Telegram’s blockchain, reaching over 900 million users for payments and decentralized finance (DeFi).
In-Depth Look
1. Fed Rate Cut Reduces Revenue (September 24, 2025)
What happened:
The Federal Reserve lowered interest rates by 0.25%, which means FDUSD earns less money from the government bonds it holds as reserves. This cut reduced FDUSD’s yearly revenue by about $2.92 million. Despite this, FDUSD’s trading volume on major exchanges reached $1.25 trillion in September, making up nearly 9% of the stablecoin market.
Why it matters:
This change is mostly neutral for FDUSD. While the lower earnings put some pressure on profits, more people are using FDUSD, with trading volume increasing 26% in just one day. Traders will be watching how FDUSD manages its reserves to keep its value stable.
(Source: CoinDesk)
2. Venus Protocol Recovers $11M FDUSD After Attack (September 8, 2025)
What happened:
A phishing scam targeted the CEO of Eureka Trading, stealing $13 million worth of FDUSD and other assets. Venus Protocol acted fast, freezing operations within 20 minutes and recovering $11.4 million by liquidating the attacker’s positions.
Why it matters:
This is a positive sign for FDUSD. The quick response shows that decentralized finance (DeFi) platforms can protect users’ funds effectively. This helped restore confidence in FDUSD as a reliable asset. The price of Venus Protocol’s token (XVS) also bounced back after the recovery.
(Source: The Block)
3. FDUSD Launches on TON Blockchain (July 28, 2025)
What happened:
FDUSD is now available on TON, the blockchain created by Telegram. This allows for cheaper and faster transactions and opens up new DeFi opportunities. With over 900 million Telegram users, FDUSD can now be accessed through @wallet_tg and @Tonco_io.
Why it matters:
This is great news for FDUSD. Being on TON helps FDUSD connect traditional internet users (Web2) with blockchain technology (Web3). Since the launch, liquidity on TON increased by 97% in July, showing strong interest.
(Source: TON Blockchain)
Conclusion
FDUSD is navigating economic challenges while growing strategically. It’s keeping its value stable despite lower revenue and expanding its role in DeFi and everyday payments. The integration with TON could help FDUSD compete more strongly with USDT, especially in emerging markets.
What is expected in the development of FDUSD?
FDUSD’s roadmap is focused on growing its ecosystem and meeting regulatory requirements.
- TON Ecosystem Growth (2025) – Expanding decentralized finance (DeFi) features and incentives on the TON blockchain.
- BVI Regulatory Hub (Q4 2025) – Launching a new licensed entity in the British Virgin Islands to support global issuance.
- Hong Kong Licensing (2026) – Seeking official stablecoin approval under Hong Kong’s financial regulations.
Deep Dive
1. TON Ecosystem Growth (2025)
Overview:
After FDUSD launched on the TON blockchain in July 2025, First Digital is encouraging users to participate in liquidity pools and DeFi platforms like Tonco DEX. This aims to boost adoption among Telegram’s 900 million+ users. Recent community updates mention rewards for FDUSD yield farming and efforts to keep liquidity stable on the blockchain.
What this means:
This is positive for FDUSD’s use because stronger integration with TON could lead to more transactions and make FDUSD a key payment option within Telegram’s ecosystem. However, it faces competition from established stablecoins like USDT and depends on TON’s network growth.
2. BVI Regulatory Hub (Q4 2025)
Overview:
In August 2025, First Digital set up a licensed issuer in the British Virgin Islands (BVI) to expand FDUSD’s reach to more regulated markets outside Asia. The company maintains a 1:1 reserve backing for FDUSD, ensuring each token is fully supported by real assets.
What this means:
This move could attract institutional investors looking for compliant stablecoins, which is a positive sign. Still, there are challenges in managing regulations across different countries.
3. Hong Kong Licensing (2026)
Overview:
According to its transparency portal, FDUSD plans to obtain a stablecoin license under Hong Kong’s new regulatory framework. This will require monthly audits of reserves and stronger customer identity checks (KYC).
What this means:
Approval from Hong Kong’s Monetary Authority (HKMA) would boost confidence in FDUSD’s compliance and long-term viability. However, delays in finalizing regulations, expected by mid-2026, might slow down adoption by institutional users.
Conclusion
FDUSD is focusing on expanding its use on the TON blockchain and preparing for regulatory approval in the BVI and Hong Kong to compete with stablecoins like USDT and USDC. While short-term growth depends on TON’s DeFi ecosystem, meeting regulatory milestones will be key to attracting institutional investors. The big question remains: how will FDUSD balance innovation with compliance as regulators increase scrutiny on stablecoins?
What updates are there in the FDUSD code base?
FDUSD is growing its presence across multiple blockchains and boosting transparency with recent technical updates.
- TON Blockchain Integration (July 28, 2025) – FDUSD is now available natively on Telegram’s blockchain, offering fast and low-cost transactions.
- Arbitrum Mainnet Launch (June 6, 2025) – FDUSD added to Arbitrum to improve decentralized finance (DeFi) options with lower fees and better liquidity.
- Monthly Attestation Reports (August 20, 2025) – Regular audits confirm FDUSD is fully backed 1:1 by U.S. Treasuries and cash, building trust.
Deep Dive
1. TON Blockchain Integration (July 28, 2025)
What happened: FDUSD launched directly on The Open Network (TON), the blockchain behind Telegram, which has over 900 million users worldwide.
TON’s technology supports over 100,000 transactions per second, making payments fast and inexpensive. FDUSD smart contracts on TON allow users to mint coins directly through First Digital and use wallets like @wallet_tg.
Why it matters: This move opens FDUSD to Telegram’s huge user base, making peer-to-peer payments and DeFi activities easier and cheaper. It could especially help users in developing countries where traditional banking is limited.
(Source)
2. Arbitrum Mainnet Launch (June 6, 2025)
What happened: FDUSD expanded to Arbitrum, a popular Ethereum Layer-2 network designed to make transactions faster and less expensive.
Because FDUSD is deployed natively (not through a bridge), it reduces security risks and cuts out extra fees. It also integrates with Camelot DEX, a decentralized exchange on Arbitrum, improving liquidity for trading, lending, and earning yields in a $3 billion+ ecosystem.
Why it matters: While this is part of FDUSD’s broader multi-chain plan, it offers Arbitrum users a more efficient stablecoin option compared to Ethereum’s main network.
(Source)
3. Monthly Attestation Reports (August 20, 2025)
What happened: First Digital published its latest independent audit confirming FDUSD is fully backed by U.S. Treasuries and cash equivalents.
These monthly third-party audits (for example, the March 2025 report showed $2.05 billion in reserves against a $1.6 billion market cap) help address concerns like the brief FDUSD price drop in April 2025 following allegations by Justin Sun.
Why it matters: Regular transparency builds confidence in FDUSD’s stability and trustworthiness, which is crucial for stablecoins facing increased regulatory attention.
(Source)
Conclusion
FDUSD’s recent updates focus on scalability through integrations with TON and Arbitrum, and trust through ongoing reserve audits. These improvements expand FDUSD’s usability while addressing past credibility issues.
Could FDUSD’s multi-chain approach help it compete more closely with leading stablecoins like USDT and USDC in the DeFi space? Time will tell.