First Digital Secures VASP Registration in Lithuania, Paving the Way for European Expansion

First Digital Group (“First Digital”), a global leader in stablecoin, custodial and trust solutions and parent company of FD121 Limited (also known as First Digital Labs), issuer of First Digital USD (FDUSD®), has secured registration as a Virtual Asset Service Provider (VASP) in Lithuania.

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The VASP registration, granted by Lithuania’s Financial Crime Investigation Service (FCIS), affirms First Digital’s compliance with stringent European Anti-Money Laundering (AML) and regulatory standards. This milestone allows First Digital to deliver a world-class suite of services to Lithuanian clients, including institutional-grade custody and frictionless fiat on/off-ramp capabilities. 

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Securing the VASP registration provides First Digital with a strategic edge in pursuing the Markets in Crypto-Assets (MiCA) Crypto-Asset Service Provider license, laying the groundwork for FDUSD®’s robust expansion across European Union and European Economic Area. Lithuania’s progressive regulatory environment is primed for First Digital’s ambitions for European expansion, advancing accessibility, transparency and security within the region.

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"We are proud to secure VASP registration in Lithuania," said Vincent Chok, CEO and Founder of First Digital. "This achievement not only underscores our commitment to compliance and regulatory excellence but also reinforces our mission to build a secure and scalable financial ecosystem for digital payment services. With the registration, we are well-positioned to serve European clients as a trusted custodian.”

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First Digital Group remains steadfast in forefronting technological progress and fostering cryptocurrency adoption worldwide. By leveraging Lithuania’s robust infrastructure and regulatory advancement, First Digital further strengthens its leadership in advancing a dynamic and compliant digital asset ecosystem within the region. 

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FDUSD® Ecosystem Growth 

As a fast-growing challenger in the stablecoin arena, FDUSD® continues to provide diverse options to users and partners. FDUSD® is already natively deployed on Ethereum, Binance Smart Chain and Sui. Most recently, the company announced its expansion to Solana, leveraging the network’s ultra-fast transaction speeds, low fees and high scalability, unlocking new possibilities for cross-border payments, decentralised finance (DeFi), and everyday transactions. 

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Each FDUSD® token is 100% backed by US dollar deposits, U.S. government bonds, and cash equivalents. To ensure full transparency, First Digital Labs publishes monthly, third-party audited attestations of reserve assets. 

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