First Digital Group Plans Public Listing with CSLM Merger

Key Points:

• First Digital Group plans a merger with CSLM for a US listing, impacting FDUSD.
• FDUSD’s supply decreased from $4.4B to $920M since April 2024.
• No public statements from First Digital leadership or major crypto figures.

First Digital Group plans a public listing through a proposed merger with CSLM Digital Asset Acquisition Corp III, potentially reshaping the crypto landscape, reported on December 1.

This merger could influence stablecoin markets, affecting liquidity and trading dynamics as First Digital Group transitions to a publicly traded entity.

First Digital’s Strategic Merger to Influence Stablecoin Sector

First Digital Group, a pivotal player in the stablecoin market, intends to merge with CSLM Digital Asset Acquisition Corp III, moving toward public trading. This marks a significant step for First Digital, the issuer of FDUSD, a stablecoin currently valued at $920 million in circulation.

Post-merger, the anticipated listing could alter FDUSD’s dynamics, especially given its previous high of approximately $4.4 billion in April 2024. This merger aims to inject new capital into First Digital, potentially enhancing its market operations and influence.

FDUSD’s Market Shift: From $4.4 Billion to $920 Million

Did you know? First Digital USD’s crucial market contraction from $4.4 billion to approximately $920 million over several months demonstrates significant strategic adjustments in the stablecoin ecosystem.

First Digital USD (FDUSD) remains stable at $1.00 with a market cap of $908.15 million, as recorded by CoinMarketCap. Its 24-hour trading volume surged to $4.35 billion, marking a 121.36% change. Price movements over the past days have shown slight declines, emphasizing minimal volatility.

First Digital USD(FDUSD), daily chart, screenshot on CoinMarketCap at 15:45 UTC on December 1, 2025. Source: CoinMarketCap

Insights from the Coincu research team suggest mergers like this could lead to expanded regulatory scrutiny or shifts in market strategies. Such a public listing might encourage innovations in financial solutions, albeit requiring compliance with stringent U.S. securities regulations.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Source: https://coincu.com/news/first-digital-public-listing-cslm/