Customers can pay merchants in FDUSD on Ethereum and Solana, while merchants are paid in fiat currencies
First Digital, the group behind FDUSD, the 3rd largest fiat-backed stablecoin, and FOMO Pay, a licensed Major Payment Institution in Singapore and Hong Kong, have today announced the integration of FDUSD into FOMO Pay's comprehensive payment solutions. This move marks a milestone in the growing acceptance of stablecoins as a payment method and rail, particularly in the APAC region.
Available immediately to merchants, FOMO Pay’s integration of FDUSD on Ethereum and Solana paves the way for seamless on-chain settlement of stablecoin transactions. With over $2 billion in circulation globally with fully-backed reserves, FDUSD stands as one of the most widely traded stablecoins today.
The integration of FDUSD into FOMO Pay’s ecosystem allows its merchants, corporate and financial institution clients to seamlessly convert between FDUSD and fiat currencies, expanding global reach. Moreover, the integration empowers merchants and businesses to accept FDUSD payments through FOMO Pay’s digital payment solution, streamlining payment acceptance for merchants and enhancing checkout flexibility for customers.
First Digital’s collaboration with FOMO Pay marks a significant step towards enhancing digital asset transaction capabilities. As the first Digital Payment Token (DPT) Service licensee regulated by the Monetary Authority of Singapore (MAS), FOMO Pay brings its regulatory expertise and robust payment infrastructure to the partnership, enabling seamless and compliant digital payment solutions.
“We are thrilled to collaborate with FOMO Pay to bridge the gap between digital assets and everyday transactions,” said Vincent Chok, Founder and CEO of First Digital. “Signalling growing merchant adoption, the increased proliferation of stablecoins such as FDUSD through this integration empowers users by facilitating global transactions and providing customers with easy, fast, and secure payment options, regardless of their access to traditional banking services or credit cards.”
The collaboration between First Digital and FOMO Pay sets the stage for greater adoption of blockchain-powered financial solutions. As businesses and consumers continue to embrace digital assets, FDUSD’s expanded utility will drive further innovation in global commerce.
About FDUSD
Launched in June 2023, FDUSD is a fully 1:1 USD-backed stablecoin designed to provide a secure, transparent, and scalable global digital dollar solution. It is fully backed by cash and cash equivalents, held in fully segregated holding structures, offering users a trusted tool for payments, trading, and DeFi applications. Reserves are safeguarded by a top-tier, qualified custodian with a trust license for seamless asset protection and regulatory compliance, with independent attestation reports published monthly. With support for Ethereum, BNB Chain, Sui, and now Solana, FDUSD is shaping the future of global digital finance.
About FOMO Pay
Founded in 2015, FOMO Pay Pte Ltd is a major payment institution licensed in Singapore and Hong Kong. The firm has become a leading one-stop digital payment, digital banking, and digital asset solution provider. It is currently building Asia’s fully licensed financial platform, helping institutions and businesses connect between fiat and digital currency. The firm offers its three flagship products:
Visit www.fomopay.com for more information. For media inquiries, contact marketing@fomopay.com.
For more information, please contact: Smriti Talreja, Marketing & Comms Lead. First Digital, s.talreja@1stDigital.com
