The merger provides First Digital with a direct route to public equity markets, supplying the necessary funding to expand its Finance District platform, an AI-driven financial infrastructure project. Since launching FDUSD in 2023, the company has seen significant traction, reporting over $4 trillion in cumulative trading volume by the end of June. For the fiscal year ending in June 2025, First Digital generated approximately $87 million in revenue.
In section Market Quotes
First Digital Targets Nasdaq Listing via $250 Million SPAC Deal
Valued at $250 million, Hong Kong-based stablecoin issuer First Digital Group is moving to capture public market capital. The firm behind the FDUSD stablecoin announced a merger with the Nasdaq-listed special-purpose acquisition company CSLM Digital Asset Acquisition Corp. III, aiming to finalize the transaction by the first half of 2027.
Beyond the merger, the company is intensifying its focus on the South Korean market. Partnerships with ITCEN Group and Wavebridge are currently in place to develop distribution and settlement infrastructure for FDUSD. While First Digital maintains that it has no immediate plans to issue a won-referenced stablecoin, it views South Korea as a critical territory, particularly as the nation continues to refine its domestic digital-asset and stablecoin regulatory framework.
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