What could affect the price of FDUSD?

FDUSD’s price stability is being tested by changes in exchange liquidity and increased regulatory oversight, but its expansion onto new blockchains offers promising growth opportunities.

1. Binance Delistings – Fewer FDUSD trading pairs could reduce liquidity, increasing the chance of short-term price fluctuations.
2. Multi-Chain Expansion – Launching on TON and Arbitrum blockchains may drive wider use and stronger demand.
3. Reserve Audits & Regulations – Transparent audits are key to keeping trust in FDUSD’s $1 peg amid growing regulatory requirements.

Deep Dive

1. Exchange Liquidity Changes (Potential Downside)

What’s happening:
Binance removed 18 FDUSD margin trading pairs (like SHIB/FDUSD and PEPE/FDUSD) as of December 30, 2025. This move is part of a broader effort to cut low-liquidity FDUSD markets. Closing these margin options can lead to forced selling and less efficient price corrections.

Why it matters:
With fewer active trading pairs, FDUSD could experience wider price spreads and more slippage—meaning the price might temporarily stray from its $1 peg. Similar past delistings, such as FDUSD/APT in August 2025, caused price swings of 0.2-0.4% (Binance).

2. Blockchain Expansion (Potential Upside)

What’s happening:
FDUSD launched natively on the TON blockchain in July 2025 and on Arbitrum in June 2025. This opens up payment options for Telegram’s 900 million users and increases decentralized finance (DeFi) activity. Total value locked (TVL) in FDUSD pools jumped 47% in Q4 2025, with ETH/FDUSD pools offering over 100% annual percentage yield (First Digital Labs).

Why it matters:
By operating on multiple blockchains, FDUSD attracts a broader user base and use cases. TON alone has processed over $10 billion in cross-border payments since July, boosting FDUSD’s role as a reliable payment and settlement option.

3. Reserve Audits & Regulatory Environment (Mixed Effects)

What’s happening:
FDUSD’s September 2025 audit confirmed full 1:1 backing, mostly in U.S. Treasuries and cash. However, in March 2025, unverified insolvency rumors caused a 10% price drop, which was later corrected through third-party audits (The Defiant). Meanwhile, Hong Kong’s new stablecoin regulations require licensing by 2026.

Why it matters:
Regular, transparent audits help maintain confidence in FDUSD’s stability. But new regulations, like the EU’s MiCA framework and Hong Kong’s licensing rules, could increase compliance costs and limit FDUSD’s availability if not met.

Conclusion

FDUSD’s ability to maintain its $1 peg depends on managing liquidity challenges from exchange delistings while growing its user base through blockchain integrations. Although recent delistings may cause short-term price swings, expansion on TON and Arbitrum and strong audit practices provide a solid foundation. Keep an eye on Hong Kong’s licensing progress in early 2026 to see if FDUSD can meet regulatory demands without affecting its ease of redemption.

What are people saying about FDUSD?

FDUSD is navigating challenges from exchange delistings while expanding its reach and offering attractive yield opportunities. Here’s the latest:

1. Binance removes FDUSD margin trading pairs – Over 18 pairs delisted, indicating a focus on liquidity streamlining
2. Growing presence across multiple blockchains – Integrations with TON, Solana, and Arbitrum enhance decentralized finance (DeFi) use cases
3. High yield opportunities emerge – FDUSD/ETH pools on PancakeSwap are offering annual percentage yields (APYs) above 100%
4. Transparency efforts continue – Monthly audits confirm $1.08 billion in reserves, addressing concerns about stablecoin stability

In-Depth Analysis

1. FDUSD expands to Telegram’s TON blockchain – A positive sign

@FDLabsHQ shared:
"Enhance global liquidity with FDUSD – swap via @Tonco_io or mint directly for fast transactions on Telegram’s Layer-1."
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What this means: This is a strong positive for FDUSD adoption. With TON’s user base exceeding 900 million, integrating FDUSD as a native stablecoin makes it easier for users to make payments and participate in DeFi activities directly within the Telegram ecosystem.

2. Binance FDUSD trading volume spikes – Neutral impact

@cexscan reported:
"On #Binance Spot, FDUSD 15-min volume hits 13.48M – price holds $0.9995 despite delistings."
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What this means: While Binance has removed many FDUSD margin trading pairs, reducing liquidity in that area, spot trading volume remains strong and the price is stable near $1. This suggests steady demand despite the exchange’s adjustments.

3. FDUSD supports Solana’s Bitcoin-focused DeFi growth – Bullish outlook

@KaminoFinance noted:
"Earn $20K/month borrowing FDUSD against zBTC – building Bitcoin-native credit markets on Solana."
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What this means: FDUSD is being used as collateral for loans backed by Bitcoin on Solana, creating new opportunities for institutional investors and expanding FDUSD’s role in decentralized finance. This development is a positive indicator of FDUSD’s growing utility.

4. Reserve audits reinforce stablecoin trust – Neutral but reassuring

@FDLabsHQ confirmed:
"Sept 2025 audit confirms 1:1 backing – 74.5% Treasuries, 17.5% cash. Contracts audited by PeckShield."
View original post
What this means: Regular audits showing that FDUSD is fully backed by safe assets help maintain user confidence, especially after a brief price dip to $0.76 earlier this year. This transparency is important but doesn’t necessarily drive price movement.

Conclusion

Overall, the outlook on FDUSD is mixed. While Binance’s removal of margin pairs points to a tightening of liquidity, FDUSD’s expanding presence across multiple blockchains and its role in innovative DeFi lending markets are promising signs. Keep an eye on the FDUSD/ETH liquidity pool on PancakeSwap—if triple-digit APYs continue, it could attract more users and strengthen the protocol despite broader challenges facing stablecoins.

What is the latest news about FDUSD?

FDUSD is navigating changes on exchanges and planning to grow as competition among stablecoins heats up. Here are the key updates:

1. Binance Removes 18 FDUSD Trading Pairs (December 23, 2025) – Margin trading pairs are being cut to focus liquidity.
2. Binance Reaches 300 Million Users (December 21, 2025) – FDUSD plays an important role in the exchange’s liquidity strategy.
3. First Digital Plans SPAC Merger (December 1, 2025) – The company behind FDUSD aims to go public in the U.S.

Deep Dive

1. Binance Removes 18 FDUSD Trading Pairs (December 23, 2025)

What happened:
Binance announced it will remove 18 margin trading pairs involving FDUSD (like SHIB/FDUSD and PEPE/FDUSD) starting December 30. This is part of a review to improve liquidity. Any open margin positions will automatically close, which could lead to forced liquidations if prices move quickly. Spot trading with FDUSD will continue as usual.

Why it matters:
This change limits the ability to trade FDUSD with leverage for now. Binance is focusing on fewer, more popular stablecoins like USDT to keep liquidity strong. Traders might switch to spot trading or use other stablecoins, which could reduce FDUSD’s share in margin trading markets.
(CoinMarketCap)

2. Binance’s Growth Linked to FDUSD Liquidity (December 21, 2025)

What happened:
Binance announced it has surpassed 300 million users. Part of this growth is credited to FDUSD, which helps diversify the stablecoin options on the platform. According to Kaiko data, FDUSD now makes up about 15% of Binance’s stablecoin trading volume.

Why it matters:
FDUSD’s presence attracts institutional traders who want more stablecoin choices. However, FDUSD’s daily trading volume of $2.59 billion is much smaller than USDT’s $56 billion, showing it still holds a smaller, specialized role.
(CoinMarketCap)

3. First Digital’s SPAC Merger Plans (December 1, 2025)

What happened:
First Digital, the company behind FDUSD, plans to go public in the U.S. by merging with a special purpose acquisition company (SPAC) called CSLM Digital Asset Acquisition Corp III. Details of the deal have not been made public yet.

Why it matters:
Going public could increase FDUSD’s credibility and make its financial reserves more transparent. However, it will also bring more regulatory oversight from the U.S. Securities and Exchange Commission (SEC). This move fits a trend of crypto companies seeking regulated markets after recent approvals of crypto ETFs.
(Bloomberg)

Conclusion

FDUSD is facing challenges in margin trading but remains important for Binance’s liquidity strategy. Meanwhile, First Digital’s plans to go public show ambitions to grow in regulated markets. The big question for 2026 is whether FDUSD can hold its ground against larger stablecoins like USDT and USDC amid increasing regulatory scrutiny.

What is expected in the development of FDUSD?

FDUSD’s plan focuses on growing its use, meeting regulatory requirements, and connecting with more blockchain networks.

1. Strategic Meeting in Hong Kong (November 26, 2025) – Talking about how stablecoins can be adopted by institutions and used more widely.
2. Expanding to More Blockchains (2026) – Adding support for more blockchain networks beyond the current six.
3. Going Public via SPAC Merger (2026) – Planning to list on a U.S. stock exchange by merging with CSLM Digital Asset Acquisition Corp III.
4. Ongoing Regulatory Approvals – Working to get licenses for issuing stablecoins under Hong Kong and European rules.

In Detail

1. Strategic Meeting in Hong Kong (November 26, 2025)

What’s happening: First Digital Labs will team up with Oracle NetSuite to discuss how FDUSD can help reshape global finance, focusing on getting big institutions in Asia to use stablecoins. The event will highlight the importance of following regulations and running operations carefully.
Why it matters: This is a positive sign for FDUSD because it shows they are building trust with traditional financial institutions and strengthening their reputation in regulated markets.

2. Expanding to More Blockchains (2026)

What’s happening: FDUSD plans to support more blockchain networks beyond Ethereum, BNB Chain, TON, Solana, Sui, and Arbitrum. CEO Vincent Chok calls this a “multi-chain strategy” to improve liquidity (how easily assets can be bought or sold) and make FDUSD more accessible in decentralized finance (DeFi) platforms (The Defiant).
Why it matters: This could help FDUSD grow, but success depends on demand for FDUSD on these new networks and avoiding spreading resources too thin in places with low trading activity.

3. Going Public via SPAC Merger (2026)

What’s happening: First Digital is working on a deal to merge with CSLM Digital Asset Acquisition Corp III, a special purpose acquisition company (SPAC), to list FDUSD on Nasdaq. This move aims to tap into U.S. capital markets for funding and growth (Bloomberg).
Why it matters: If successful, this would increase transparency and trust among investors. However, it also brings risks like regulatory review and market ups and downs that could affect the company’s value.

4. Ongoing Regulatory Approvals

What’s happening: The FDUSD team is actively seeking licenses under Hong Kong’s stablecoin rules and Europe’s MiCA regulations. These rules require stablecoins to have full reserves backing them and to undergo monthly audits.
Why it matters: This is a strong positive for long-term trust and adoption, especially in Asia-Pacific markets. However, following strict rules might slow down FDUSD’s ability to move quickly compared to competitors without such oversight.

Conclusion

FDUSD is focusing on building partnerships with institutions, following regulations, and growing its presence across blockchain networks to compete in the $300 billion stablecoin market. Key upcoming events like the Hong Kong meeting and the SPAC merger will be important milestones. The big question remains: How will FDUSD stand out when stablecoins like USDT and USDC already dominate liquidity?

What updates are there in the FDUSD code base?

FDUSD’s recent updates focus on expanding to multiple blockchains and strengthening security to build trust and increase its usefulness.

1. Multi-Chain Deployment (July 28, 2025) – FDUSD is now integrated with the TON Blockchain, giving access to Telegram’s large user base.
2. Security Audits (November 7, 2025) – Smart contracts were reviewed by top security firms PeckShield and Quantstamp.
3. Arbitrum Mainnet Launch (June 6, 2025) – FDUSD launched on Arbitrum, improving decentralized finance (DeFi) liquidity and lowering transaction costs.

Deep Dive

1. Multi-Chain Deployment (July 28, 2025)

What happened: FDUSD expanded to the TON Blockchain, which powers Telegram’s messaging platform with over 900 million users. This means FDUSD can now be sent and received easily within Telegram, thanks to new smart contracts designed for TON’s fast network.

Users can mint (create) and swap FDUSD directly on TON without relying on complicated cross-chain bridges. Popular services like @Tonco_io and @wallet_tg now support FDUSD for sending money and making payments.

Why it matters: This update makes FDUSD more practical for everyday use, especially in emerging markets where Telegram is popular. It’s like making stablecoin transactions as easy as sending a text message, which could boost adoption.
(Source)

2. Security Audits (November 7, 2025)

What happened: FDUSD’s smart contracts were thoroughly checked by blockchain security experts PeckShield and Quantstamp. They reviewed how FDUSD manages its reserves and redemption processes to ensure everything is secure and transparent.

The audits confirmed that FDUSD maintains a 1:1 backing (meaning each FDUSD is fully supported by real assets). Monthly reports now include checks on both the reserves and the code itself.

Why it matters: This builds confidence in FDUSD’s stability and security, which is crucial as other stablecoins have faced problems with losing their value peg. It helps users trust that FDUSD will hold its value.
(Source)

3. Arbitrum Mainnet Launch (June 6, 2025)

What happened: FDUSD launched on Arbitrum, a popular Ethereum Layer-2 network known for lower fees and faster transactions. The smart contracts were optimized to work smoothly on Arbitrum’s system, allowing users to mint and redeem FDUSD directly without extra steps.

FDUSD was quickly added to liquidity pools on Camelot DEX, a decentralized exchange, improving trading options.

Why it matters: This makes FDUSD more attractive for decentralized finance (DeFi) users and institutions looking for cheaper and faster transactions. It positions FDUSD as a key stablecoin for scalable DeFi applications.
(Source)

Conclusion

FDUSD is focusing on expanding across multiple blockchains and enhancing security to strengthen its position in digital finance worldwide. While these improvements boost its technology and trustworthiness, FDUSD will also need to navigate increasing regulatory attention as competition among stablecoins grows.