First Digital has entered into a definitive merger agreement with Nasdaq-listed CSLM Digital Asset Acquisition Corp III in a deal that values the company at $250 million before the transaction. If completed, the two sides expect to form a new holding company that will be listed on Nasdaq. The deal is expected to close in the first half of 2027, subject to regulatory approval and other customary closing conditions.
The company also disclosed operating figures tied to its stablecoin business. As of June 30, 2026, cumulative trading volume for FDUSD had exceeded $4.7 trillion. For the fiscal year ended June 30, 2025, First Digital reported about $87 million in revenue. First Digital said FDUSD reserves consist of cash and cash equivalents held in segregated accounts, with monthly attestations conducted by an independent firm. It also said its Finance District platform has launched four products so far, though the segment has not yet generated material revenue.
First Digital has signed a definitive merger agreement with Nasdaq-listed CSLM Digital Asset Acquisition Corp III, in a transaction that values the company at $250 million before the deal closes.
After completion, the parties expect to establish a new holding company and list it on Nasdaq. The transaction is expected to be completed in the first half of 2027, though it still requires regulatory approval and the satisfaction of other closing conditions.
Disclosed business metrics
As of June 30, 2026, cumulative trading volume for FDUSD had surpassed $4.7 trillion. For the fiscal year ended June 30, 2025, First Digital posted about $87 million in revenue.
First Digital said FDUSD reserve assets are made up of cash and cash equivalents and are held in segregated accounts. The reserves are subject to monthly attestations by an independent firm.
Finance District platform
The company said its Finance District platform has launched four products, but the business has not yet generated material revenue.
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