FDUSD, the pioneering fiat-pegged token introduced in August 2023, has climbed to the fourth-largest stablecoin position, fueled by substantial trading volume and supply expansion.

With a circulating supply of 3.15 billion tokens, predominantly on Ethereum and BNB Chain, FDUSD's market dominance surpasses that of TUSD, reflecting its growing prominence in the stablecoin market.

Binance holds a significant portion of FDUSD tokens, with the top wallets on both Ethereum and BNB Chain controlled by the exchange, indicating a centralised distribution pattern.

Despite the majority of FDUSD activity occurring off-chain and within exchange market books, its global trade volume ranks it as the fourth-largest crypto asset by trading volume under ETH.

Prescient Assurance LLC provides assurance reports on FDUSD reserves, detailing holdings in U.S. Treasuries and cash reserves across multiple nations, although concerns regarding bankruptcy isolation remain highlighted by independent rating agencies.