What is FDUSD's quality score?

FDUSD (First Digital) scores 65/100 on OnChain Benchmark's Stablecoin Quality Rating — Developing, as of Sep 26, 2026 (methodology v1.5-stablecoin).

How is FDUSD's quality score calculated?

OnChain Benchmark scores FDUSD across four equally weighted dimensions, each out of 25: reserve quality (18/25), redemption depth (15/25), transparency (16/25), holder concentration (not published — holder base too large or too widely distributed to measure to ground truth). The 65/100 composite reflects the three measured dimensions, renormalized. The full rubric is published at onchainbenchmark.com/methodology.

How concentrated is FDUSD's ownership?

OnChain Benchmark does not publish a holder-concentration figure for FDUSD: its holder base cannot be measured to ground truth (holder concentration is withheld rather than published as an unverifiable number). FDUSD's composite reflects its other measured dimensions.

What does Developing mean?

Under OnChain Benchmark methodology v1.5-stablecoin, composite scores grade as Verified Capital (≥ 85), Institutional-grade (≥ 70), Developing (55–69), and Limited (below 55). FDUSD scores 65/100, placing it in Developing. Note that one of four dimensions cannot yet be measured for this instrument: Its holder base is too large or too widely distributed to measure to ground truth, so the concentration figure is not published. The composite reflects the three measured dimensions, renormalized.

OCB — Quality Rating

FDUSD Quality Rating

First Digital · US dollar stablecoin issued by First Digital, a Hong Kong-headquartered group with a BVI issuing entity.

FDUSD (First Digital) scores 65/100 on OnChain Benchmark's Stablecoin Quality Rating — rated Developing — across four dimensions: reserve quality 18/25, redemption depth 15/25, transparency 16/25, and holder concentration withheld (not measurable to ground truth) (methodology v1.5-stablecoin, as of Sep 26, 2026).

FDUSDStablecoin

Stablecoin Quality Rating

65/ 100

Developing

OCB — 01

FDUSD across four dimensions

Each dimension is scored out of 25, and the four add directly to the /100 composite — an equal-weight, plain sum. Last scored Sep 26, 2026 on methodology v1.5-stablecoin.

Dimension	Score
Reserve Quality	18 / 25
Redemption Depth	15 / 25
Transparency	16 / 25
Holder Concentration	Not measured
CompositeΣ (score)	65 / 100

Holder Concentration is withheld for this instrument. Its holder base is too large or too widely distributed to measure to ground truth, so the concentration figure is not published. The composite reflects the three measured dimensions, renormalized.

OCB — 02

OCB Instrument

Outstanding supply

Measured onchain daily, summed across every chain the fund is issued on. Latest reading $281.41M.

Source: FDUSD · Stablecoin Quality Rating · onchainbenchmark.com2026-09-26 · Measured daily

OCB — 03

OCB Instrument

Rating history

FDUSD’s quality rating, measured daily.

Source: FDUSD · Stablecoin Quality Rating · onchainbenchmark.com2026-09-26 · Recomputed daily

OCB — 04

Evidence behind the rating

A sample of the verified facts behind FDUSD's score. The full diligence trail is in the terminal.

Disclosure Qualitycontract address
Contract address verified on Ethereum: 0xc5f0f7b66764F6ec8C8Dff7BA683102295E16409 (primary deployment)
Confirmed active onchain.
Verified Jul 29, 2026· instrument_deployments registry — chain_id 1
Disclosure Qualitycontract address
Contract address verified on Solana: 9zNQRsGLjNKwCUU5Gq5LR8beUCPzQMVMqKAi3SSZh54u (Solana deployment)
Confirmed active onchain.
Verified Jul 29, 2026· instrument_deployments registry — chain_id 1101

OCB — 05

Key facts

Issuer: First Digital
Asset class: Stablecoin
Methodology: v1.5-stablecoin
Last scored: Sep 26, 2026
Rubric: Stablecoin Quality Rating

Chains

ChainShare of measured supply

ETHEthereum

100.0%

0xc5f0f7…E16409Explorer ↗

BNBBNB Chain

n/m

0xc5f0f7…E16409Explorer ↗

SOLSolana

n/m

9zNQRsGL…SZh54uExplorer ↗

Cite this rating

Reference FDUSD's rating

Copy a ready-made citation. Every rating carries its methodology version and a stable permalink, so a citation stays accurate after a later rescoring run.

Plain

OnChain Benchmark (2026). FDUSD Quality Rating: 65/100 (Developing), as of Sep 26, 2026. Methodology v1.5-stablecoin. https://onchainbenchmark.com/instruments/fdusd

Harvard

OnChain Benchmark (2026) 'FDUSD Quality Rating', OnChain Benchmark, Developing, 65/100, methodology v1.5-stablecoin. Available at: https://onchainbenchmark.com/instruments/fdusd (Accessed: Sep 26, 2026).

BibTeX

@misc{ocb_fdusd_2026,
  author = {{OnChain Benchmark}},
  title = {{FDUSD Quality Rating}},
  year = {2026},
  note = {65/100, Developing, methodology v1.5-stablecoin},
  url = {https://onchainbenchmark.com/instruments/fdusd}
}

Or pull the data: FDUSD rating (CSV)

Full diligence trail

The interactive terminal shows every verified fact behind FDUSD's rating — the dimension-by-dimension breakdown, scoring history, outstanding supply, anomalies, and the complete evidence trail with sources.

View full diligence trail in the terminal →Read the methodology →