First Digital, a Hong Kong company issuing the stablecoin FDUSD, is planning to list in New York through a merger with CSLM Digital Asset Acquisition Corp III, a SPAC listed on the NYSE that has raised 230 million USD in its IPO on Nasdaq. The deal is expected to include additional private investment, which is still being finalized. This plan comes amid many crypto companies making a strong push to list in America due to the supportive environment for digital assets under President Trump, particularly after the GENIUS Act established the first federal legal framework for stablecoins.
The crypto listing activity is also making a strong push in Hong Kong, with HashKey having passed the review process and Bitkub preparing for a 200 million USD IPO. However, some companies are delaying due to market volatility.
At the same time, First Digital is facing legal disputes related to the management of TrueUSD reserves, following accusations from Justin Sun and an asset freeze order in Dubai. The company denies the allegations and is suing Sun for defamation.
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