First Digital Group is a trust, custody and stablecoin company. It began as a spinoff of a trust company founded more than ten years ago, and it operates as a Hong Kong trust and custodian. Its work with digital asset companies led it into custody and stablecoin issuance, and it has issued the U.S. dollar stablecoin FDUSD since 2023. First Digital is focused on agentic payments, where AI agents use stablecoin wallets to make payments on a user’s behalf within limits the user sets. It also aims to build settlement infrastructure for emerging markets, including between stablecoins issued in local currencies, where opening a bank account or getting a credit card can be difficult. First Digital has entered into a definitive business combination agreement with CSLM Digital Asset Acquisition Corp III, Ltd. (Nasdaq: KOYN), a special purpose acquisition company. The proposed transaction is subject to customary closing conditions, including shareholder and regulatory approvals.
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