FDUSD Issuer First Digital Group to Go Public Through SPAC Merger, Bloomberg Reports

COINOTAG News, December 1st, citing Bloomberg, reports that First Digital Group, issuer of the FDUSD stablecoin, is pursuing a public listing through a SPAC merger as crypto firms race to list in a more favorable regulatory environment. This Hong Kong-based issuer is nearing execution of a non-binding letter of intent with CSLM Digital Asset Acquisition Corp III, a New York-listed SPAC, though terms remain undisclosed.

If confirmed, the arrangement would place FDUSD at the intersection of digital assets and traditional markets, leveraging SPAC liquidity to accelerate growth while subject to due diligence and ongoing regulatory scrutiny. The move signals continued listing activity in the crypto sector and emphasizes critical considerations around valuation, post-merger governance, and disclosures for investors.