First Digital, the issuer of FDUSD, plans to go public on Nasdaq via a reverse merger at a valuation of $250 million, with the deal expected to be completed in the first half of 2027.

BlockBeats news, October 8 — Hong Kong digital asset company and FDUSD issuer First Digital has entered into a definitive merger agreement with Nasdaq-listed CSLM Digital Asset Acquisition Corp III, with a pre-transaction valuation of $250 million. After the transaction closes, the two parties expect to form a new holding company and list on Nasdaq, with completion expected in the first half of 2027, subject to regulatory approval and other closing conditions.

As of June 30, 2026, FDUSD cumulative trading volume has exceeded $4.7 trillion. For the fiscal year ended June 30, 2025, the company generated approximately $87 million in revenue.

First Digital said FDUSD reserve assets are composed of cash and cash equivalents and are held in segregated accounts, with monthly attestations by an independent institution. The company's Finance District platform has currently launched 4 products but has not yet generated significant revenue.