2024

Solana

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>First Digital Labs announced that they will issue their FDUSD stablecoin on Solana.</li> 
 <li>The announcement was made during Binance Blockchain Week in Dubai.</li> 
</ul> 
<p>During this year’s Binance Blockchain Week which debuted today in Dubai, First Digital Labs announced that they will issue their FDUSD stablecoin on Solana.</p> 
<p>According to an official announcement via X, the team at Solana said that FDUSD will leverage Solana’s high throughput and low costs, joining the Solana payments and DeFi ecosystem.</p> 
<h2 id="first-digital-issues-fdusd-on-solana">First Digital Issues FDUSD on Solana</h2> 
<p>According to the team at Solana, First Digital has issued $2.6 billion FDUSD across other blockchains as of October 28, according to official data.</p> 
<p>FDUSD joins Circle’s USDC, Tether’s USDT, PayPal’s PYUSD and other global currencies including GYEN from GMO Trust company issued on Solana.</p> 
<p>It’s also worth noting that Solana’s stablecoin market cap grew 151% year-on-year, driven recently by PayPal’s PYUSD stablecoin launched on Solana back in June.</p> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img loading="lazy" decoding="async" src="https://pbs.twimg.com/media/GbIpfCyaAAAUwYL?format=jpg&amp;name=large" alt="Solana team via X " width="1998" height="1126" title="Binance Blockchain Week: FDUSD Expands to Solana in December 2024 21">
 <figcaption class="wp-caption-text">
  Solana team via X
 </figcaption>
</figure> 
<h2 id="why-this-matters">Why This Matters</h2> 
<p>This recent move is important as more stablecoin options mean more building blocks for developers which translates into better PayFi products for users.</p> 
<p>First Digital Labs plans to issue FDUSD natively on the Solana network starting in December 2024.</p> 
<p>They also made the important announcement via their X account, highlighting that the move will bring faster, more efficient transactions to users while expanding their reach across the crypto ecosystem.</p> 
<h2 id="key-benefits-of-fdusd-on-solana">Key Benefits of FDUSD on Solana</h2> 
<p>The key benefits of this latest expansion of FDUSD include the following:</p> 
<ol> 
 <li>Faster Transactions – Leveraging Solana’s high performance, FDUSD will be completed in seconds, offering an ideal solution for real-time payments and settlements.</li> 
 <li>Lower Transactions Fees – Solana’s cost-efficient framework offers low transaction fees, making it more affordable for users to transfer value on a global scale.</li> 
 <li>Enhanced Scalability – With the FDUSD expansion, Solana’s network scalability will ensure that it meets the increased demand without compromising transaction speeds and security.</li> 
</ol> 
<p>First Digital Labs <a href="https://x.com/FDLabsHQ/status/1851584681663492337" rel="nofollow" target="_blank">announced</a> that this upcoming integration with Solana is part of their broader strategy to build a versatile, resilient stablecoin ecosystem.</p> 
<p>They concluded by saying that with support on Ethereum, BNB Chain, Sui, and <a href="https://crypto.ro/en/news/3-solana-tokens-worth-watching-in-q4-2024/">Solana</a>, FDUSD is more globally accessible and liquid than ever.</p>

Binance Blockchain Week: FDUSD Expands to Solana in December 2024

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