Hong Kong-based stablecoins issuer First Digital Trust said Wednesday that it is expanding its $3 billion dollar-pegged FDUSD token to the Sui (SUI) blockchain after being available of Ethereum (ETH) and BNB Chain (BNB). The expansion is part of First Digital's effort to boost FDUSD usage among decentralized finance (DeFi) users, CEO Vincent Chok said in an interview with CoinDesk. FDUSD, issued under Hong Kong's digital asset rules and backed by U.S. Treasury bills and bank deposits to keep its price anchored to $1, quickly became the fourth-largest stablecoin behind Tether's USDT, Circle's USDC and MakerDAO's DAI, amassing $3.3 billion market capitalization since its launch last year.
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