The stablecoin FDUSD, which is based in Hong Kong, has quickly become the fourth-largest stablecoin in the market since its introduction last year, with a market cap of over $3 billion. This growth is largely due to increased trading volume, particularly with bitcoin, ether, and USDT on the Binance platform. Integrating FDUSD into the Sui network marks a significant milestone for First Digital Trust, as it becomes the first stablecoin issuer on this network. Furthermore, the launch of FDUSD on the Sui network aims to address the inefficiencies previously associated with transferring stablecoins like USDC and USDT from other blockchains.
This development eliminates the need for users to incur additional fees and face potential risks when using bridges for such transfers.