Cryptocurrency Q&A
What's FDUSD on Binance?
What's FDUSD on Binance?
QuasarGlider
Tue May 21 2024
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5 answers
1161
Hey there, I'm curious about something I've noticed on Binance. What exactly is FDUSD? I've seen it listed among the various trading pairs, but I'm not quite sure what it represents or how it functions within the crypto ecosystem. Is it a stablecoin? A derivative product? Or something else entirely? I'd really appreciate it if you could break it down for me in a way that's easy to understand. Thanks in advance for your help!
5 answers
Maria
Thu May 23 2024
FDUSD, issued by FD121 Limited in Hong Kong, operates under the banner of First Digital Labs. This unique entity is renowned for its issuance of a 1:1 USD-backed stablecoin, a digital asset that maintains its value closely aligned with the US dollar.
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Alessandra
Wed May 22 2024
BTCC, a leading cryptocurrency exchange based in the UK, offers a comprehensive suite of services. These include spot trading, futures trading, and wallet services, catering to the diverse needs of crypto enthusiasts and professionals alike.
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ShadowFox
Wed May 22 2024
FDUSD's stability lies in its pegging to the US dollar. This ensures that investors and traders can rely on its consistent value, making it an attractive option for those seeking a low-volatility asset in the volatile cryptocurrency market.
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EmilyJohnson
Wed May 22 2024
FD121 Limited, as the issuer of FDUSD, maintains a strict reserve of US dollars to back the stablecoin. This reserve ensures that every FDUSD in circulation is fully collateralized, providing additional assurances of its stability and credibility.
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CryptoNerd
Wed May 22 2024
FDUSD's popularity among investors and traders can be attributed to its reliable stability and ease of use. Its 1:1 peg to the US dollar makes it a convenient tool for value storage and transfer, while its integration with various platforms allows for seamless transactions.
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