Stablecoin

Solana

sUSD

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/first-digital-labs-expands-fdusd-stablecoin-to-solana-network/" data-wpel-link="internal" rel="noopener noreferrer nofollow">First Digital Labs Expands FDUSD Stablecoin to Solana Network</a> 
First Digital Labs announced the expansion of its FDUSD stablecoin to the Solana network. This move aims to offer users worldwide faster and lower-cost transactions.
<h2 id="fdusd-now-on-solana">FDUSD Now on Solana</h2>
First Digital Labs explained its reasons for expanding FDUSD to Solana. Although such network integrations can be challenging for stablecoin issuers, it is essential for rapid growth. The high-performance infrastructure of Solana allows for near-instant transactions, and transaction fees will remain low.
<blockquote>
 “Leveraging Solana’s high transaction capacity and low fees will provide FDUSD users with a fast and cost-effective transfer experience,” -First Digital Labs.
</blockquote>
The integration of FDUSD into Solana coincides with other initiatives in the stablecoin space on the platform. Solayer Labs, in collaboration with OpenEden, launched sUSD, an interest-bearing stablecoin backed by U.S. Treasury bonds on Solana.
<h2 id="sol-price-trends">SOL Price Trends</h2>
The integration of FDUSD and the launch of sUSD have heightened interest in Solana, causing the price of <a href="https://en.coin-turk.com/rumors-of-solana-blockchain-outage-spread-rapidly/" data-wpel-link="internal" rel="noopener noreferrer nofollow">SOL</a> to reach a three-month high. Increased adoption and demand for Solana-based financial products support continued consolidation at higher levels.
Market professionals are optimistic about SOL’s price potential. With Bitcoin surpassing $71,000, experts predict that if SOL breaks its current resistance, it could approach the $250 mark in the coming months, though the unpredictable nature of <a href="https://en.coin-turk.com/optimism-in-the-crypto-market-as-the-year-ends/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrencies</a> should not be underestimated.
First Digital Labs’ decision to expand FDUSD to Solana is part of a strategy to create a more flexible and resilient stablecoin ecosystem by increasing multi-network support. FDUSD is already supported on Ethereum , <a href="https://en.coin-turk.com/binance-coin-bnb-price-trends-and-key-levels-to-watch/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BNB</a> Chain, and Sui networks, with Solana integration providing users with more options.
In conclusion, First Digital Labs’ expansion initiative will enable FDUSD to reach more users globally and utilize various blockchain ecosystems.
The post <a href="https://en.coin-turk.com/first-digital-labs-expands-fdusd-stablecoin-to-solana-network/" data-wpel-link="internal" rel="noopener noreferrer nofollow">First Digital Labs Expands FDUSD Stablecoin to Solana Network</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.

First Digital Labs Expands FDUSD Stablecoin to Solana Network

Table of Contents

COINTURK NEWS

Other articles published on Oct 31, 2024

Uniswap Launches Permissionless Cross-Chain Bridging on Nine Networks, Including Polygon and ZKsync

Proto-Danksharding and Danksharding Explained

Introducing Qubetics’ Leadership: Pioneering Blockchain Innovation for Real-World Impact

Michael Saylor's Legacy: Donating His Bitcoin Wealth to Humanity, Inspired by Satoshi Nakamoto

Crypto Losses From Hacks Decline Over 50% in October, Down 1% YoY

Bitcoin Set to Surge Past $100,000 After Upcoming Election

Join our free newsletter for daily crypto updates!