What are the differences between USDT, USDC, FDUSD?

 16 March, 2025

Stablecoins are a cryptocurrency pegged to the dollar. They give you stability in a world where Bitcoin is bullish or can fall 10% in a day. But which one should I choose?

Stablecoins

So, USDT, USDC, and FDUSD are all stablecoins pegged to the US dollar at a 1:1 ratio, but they have differences in issuers, reserve assets, and market confidence levels.

USDT (Tether) 

USDT (Tether)

The oldest and most capitalized stablecoin.

  • Issuer: Tether Limited
  • Reserves: Backed by fiat reserves, government bonds, deposits, and other assets.
  • Blockchains: Ethereum, Tron, Solana, BNB Chain, and others.
  • Features: The most popular and liquid stablecoin, but has issues with reserve transparency.

USDC (USD Coin)

USDC (USD Coin)

It is produced by Circle, which cooperates with US banks and financial regulators.

  • Issuer: Circle (in partnership with Coinbase)
  • Reserves: 100% in cash assets and short-term US Treasury bonds.
  • Blockchains: Ethereum, Solana, Algorand, Polygon and others.
  • Features: Considered one of the most reliable and transparent stablecoins due to monthly audits.

FDUSD (First Digital USD)

FDUSD (First Digital USD)

A new stablecoin released by First Digital Labs (Hong Kong).

  • Issuer: First Digital Labs (Hong Kong)
  • Reserves: 100% collateralized in cash and equivalents.
  • Blockchains: Ethereum, BNB Chain.
  • Features: A new stablecoin, actively promoted on the Binance exchange, where it sometimes has zero trading fees.

Key differences

  • USDT is the most popular, but raises doubts about reserves.
  • USDC is the most transparent and regulated.
  • FDUSD is a new player with the support of Binance.

Which one to choose?

  • For trading – USDT (most liquid)
  • For storage – USDC or FDUSD (more transparent)
  • For low fees on Binance – FDUSD

And finally: If you are looking for reliability - USDC, liquidity - USDT, low commissions on Binance - FDUSD.

 

 

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