FDUSD Stablecoin Set to Launch on Solana (SOL)

First Digital Labs is set to launch its FDUSD stablecoin on the Solana blockchain in December 2024, enhancing global transaction speed and reducing costs.

This announcement, made during Binance Blockchain Week, aligns with the company’s strategy to increase FDUSD’s utility across multiple blockchains.

The integration will leverage Solana’s high-performance capabilities for near-instant transactions and low fees, making it ideal for expanding FDUSD into new markets. Currently available on Ethereum, BNB Chain, and Sui, FDUSD aims to provide users and developers with more options within the Solana ecosystem.

Additionally, Solana has welcomed another stablecoin, sUSD, introduced by Solayer Labs in partnership with OpenEden. Unlike traditional stablecoins, sUSD offers a self-rebasing mechanism that allows users to earn interest on low-risk assets like U.S. Treasury bills.

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First Digital Labs’ expansion onto Solana underscores its goal of creating a versatile stablecoin ecosystem. FDUSD has gained traction since its launch, reaching a market cap of $2.6 billion by late October 2024.

By integrating with Solana, FDUSD joins other major stablecoins like USDC and USDT, positioning itself as a key asset in the network’s DeFi and payments landscape.

Kosta Gushterov