United StatesDigital Finance & Tokenization▲
First Digital to Go Public on Nasdaq via $250M KOYN SPAC Merger
First Digital Group, the issuer behind the FDUSD stablecoin, has agreed to merge with CSLM Digital Asset Acquisition Corp III, known by the ticker KOYN, in a deal that values First Digital at $250M on a pre-money basis. The transaction would take First Digital public on Nasdaq and is expected to close in the first half of 2027, subject to regulatory approvals. FDUSD has recorded more than $4.7T in cumulative trading volume as of June 30, 2026, while First Digital generated about $87M in revenue in fiscal 2025. The company said the listing would give it access to public capital to expand Finance District, its on-chain ecosystem, while adding greater transparency for investors and partners.
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FDUSD · Capital · Positive FDUSD issuer First Digital is going public via the KOYN SPAC merger, gaining access to public capital to expand its on-chain ecosystem.
KOYN · Capital · Positive KOYN SPAC is the acquiring vehicle merging with First Digital in a $250M deal that takes First Digital public on Nasdaq.