First Digital, the Hong Kong digital asset firm behind FDUSD, has entered into a definitive merger agreement with Nasdaq-listed CSLM Digital Asset Acquisition Corp III at a pre-transaction valuation of $250 million. The companies said the deal would result in a new holding company that is expected to list on Nasdaq. Closing is projected for the first half of 2027, subject to regulatory approvals and other customary closing conditions. First Digital also disclosed operating and financial figures alongside the announcement. As of June 30, 2026, FDUSD had recorded more than $4.7 trillion in cumulative trading volume. For the fiscal year ended June 30, 2025, the company reported about $87 million in revenue. The firm said reserves backing FDUSD consist of cash and cash equivalents held in segregated accounts, with monthly attestations by an independent institution. It added that its Finance District platform has launched four products so far, though the segment has not yet generated material revenue.
First Digital, the Hong Kong digital asset company that issues FDUSD, has reached a definitive merger agreement with Nasdaq-listed CSLM Digital Asset Acquisition Corp III at a pre-transaction valuation of $250 million, according to ChainCatcher.
After the transaction closes, the two sides expect to establish a new holding company and list it on Nasdaq. The deal is expected to be completed in the first half of 2027, subject to regulatory approval and other closing conditions.
Operating and financial metrics disclosed
As of June 30, 2026, FDUSD had generated more than $4.7 trillion in cumulative trading volume. For the fiscal year ended June 30, 2025, the company posted about $87 million in revenue.
First Digital said FDUSD reserves are made up of cash and cash equivalents and are held in segregated accounts. The reserves are attested monthly by an independent institution.
Finance District has launched four products
The company said its Finance District platform has rolled out four products to date, but the business has not produced material revenue.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
