Navigating Regulations and Growth – First Digital’s Devere Bryan on Stablecoin's Path
Thu Aug 14 2025
I sit down with Devere Bryan, Group General Manager of First Digital, the company behind FDUSD stablecoin, and discuss the origins of First Digital, the creation and expansion of FDUSD, its partnership with Binance; Hong Kong's stablecoin sandbox and legislation, the reason they chose to move stablecoin business to BVI; the challenges facing stablecoin issuers and growth opportunities in emerging markets. Devere providesinsights into FDUSD's operations, crisis management, and future growth strategies, and its focus on Asia-Pacific regions.
Timestamps:
(00:00) - Opening Remarks
(00:54) - Brief Introduction to Genesis of First Digital (FD)
(03:23) - Hong Kong as a former Launchpad for Crypto Businesses
(04:13) - Partnership between FDUSD and Binance
(06:14) - FDUSD’s Asia Focus
(08:07) - Promising Asian Markets and Emerging Utility for stablecoins, Case Study - Coins.ph
(13:22) - Current Utility of stablecoin at This Stage
(17:22) - FDUSD's Brief Depeg in April and How FD Handled it
(23:04) - Hong Kong Sandbox, Stablecoin Bill and FD’s Decision
(30:34) - Challenges in Operating Stablecoins
(34:23) - Is Stablecoin Market Winner-Take-All
(36:44) - Ways to Diversify Stablecoin Revenue
(41:12) - How FD Identifies Growth Opportunities and Diversifies
(45:04) - Dominance of Dollar-pegged Stablecoins
(47:20) - GENIUS and its Impact on BVI, Cayman, Cook Islands, ADGM of Abu Dhabi
(49:12) - Closing Remarks
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I sit down with Devere Bryan, Group General Manager of First Digital, the company behind FDUSD stablecoin, and discuss the origins of First Digital, the creation and expansion of FDUSD, its partnership with Binance; Hong Kong's stablecoin sandbox and legislation, the reason they chose to move stablecoin business to BVI; the challenges facing stablecoin issuers and growth opportunities in emerging markets. Devere providesinsights into FDUSD's operations, crisis management, and future growth strategies, and its focus on Asia-Pacific regions. Timestamps: (00:00) - Opening Remarks (00:54) - Brief Introduction to Genesis of First Digital (FD) (03:23) - Hong Kong as a former Launchpad for Crypto Businesses (04:13) - Partnership between FDUSD and Binance (06:14) - FDUSD’s Asia Focus (08:07) - Promising Asian Markets and Emerging Utility for stablecoins, Case Study - Coins.ph (13:22) - Current Utility of stablecoin at This Stage (17:22) - FDUSD's Brief Depeg in April and How FD Handled it (23:04) - Hong Kong Sandbox, Stablecoin Bill and FD’s Decision (30:34) - Challenges in Operating Stablecoins (34:23) - Is Stablecoin Market Winner-Take-All (36:44) - Ways to Diversify Stablecoin Revenue (41:12) - How FD Identifies Growth Opportunities and Diversifies (45:04) - Dominance of Dollar-pegged Stablecoins (47:20) - GENIUS and its Impact on BVI, Cayman, Cook Islands, ADGM of Abu Dhabi (49:12) - Closing Remarks Follow worldledger.substack.com Follow Devere Bryan on LinkedIn