First Digital Eyes US Listing via Merger

First Digital Group to Go Public via SPAC Merger

• First Digital Group plans a merger with CSLM Digital Asset Acquisition Corp III, a New York-listed SPAC.
• The Hong Kong-based firm has issued a non-binding letter of intent for the merger.
• FDUSD, a stablecoin issued by First Digital, has $920 million in circulation, down from $4.4 billion in April 2024.
• First Digital manages reserves for TrueUSD and is involved in legal disputes with Techteryx over asset handling.
• CSLM raised $230 million in its Nasdaq IPO, with the merger expected to include private investment in public equity.

First Digital Group aims to go public through a merger with CSLM Digital Asset Acquisition Corp III, leveraging favorable US listing conditions. The firm issues FDUSD stablecoin and manages TrueUSD reserves amidst legal issues with Techteryx.