TL;DR
- FDUSD-FOMO Pay Partnership: First Digital USD (FDUSD) partners with FOMO Pay to enable on-chain stablecoin payments for merchants on Ethereum and Solana blockchains.
- Merchant Integration: Over 200,000 merchants across Asia will now accept FDUSD, leveraging faster settlement times and reduced fees.
- Dual Blockchain Flexibility: The integration supports diverse technical preferences, enhancing scalability and adaptability for varied business needs.
First Digital USD (FDUSD), a leading stablecoin, has partnered with Singapore-based payment gateway FOMO Pay to enable on-chain stablecoin payments for merchants via Ethereum and Solana blockchains. This integration aims to streamline cross-border transactions and expand FDUSD’s utility in global commerce, marking a significant step toward bridging traditional finance with decentralized ecosystems.
Seamless Cross-Border Transactions
The collaboration allows merchants using FOMO Pay’s platform to accept FDUSD payments directly on Ethereum and Solana networks. By leveraging these blockchains, businesses gain access to faster settlement times and reduced transaction fees compared to traditional payment systems.
The integration supports real-time conversion of FDUSD to fiat currencies, minimizing exposure to crypto volatility while maintaining the efficiency of blockchain technology.
Enhanced Merchant Adoption
FOMO Pay’s extensive network of over 200,000 merchants across Asia, including retail, hospitality, and e-commerce sectors, will now integrate FDUSD as a payment option.
FDUSD ranks as the 7th largest stablecoin by market capitalization, having surpassed $2 billion. The announcement highlighted that it is fully backed by reserves and stands among the most widely traded stablecoins currently.
This move targets markets with high crypto adoption rates, such as Singapore and Malaysia, where demand for stablecoin-based solutions is growing rapidly. Merchants can automate settlements and access liquidity pools through smart contracts, reducing reliance on intermediaries.
Dual Blockchain Flexibility
By deploying FDUSD on both Ethereum and Solana, the partnership caters to diverse technical preferences. Ethereum’s established ecosystem offers robust security and interoperability with dApps, while Solana’s high throughput and low costs appeal to merchants requiring rapid microtransactions.
This dual-chain approach ensures scalability and adaptability for businesses operating in varied regulatory environments. Plans include expanding FDUSD’s use cases to loyalty programs, supply-chain financing, and decentralized identity verification.
FOMO Pay also aims to integrate additional blockchains later this year, further diversifying payment infrastructure. This integration positions FDUSD as a competitive player in the stablecoin market, emphasizing practical utility over speculative trading.
As regulatory frameworks for digital assets mature, collaborations like this could accelerate the transition toward blockchain-powered global commerce.
