Intelligence Feed event · Capital · 2026-10-07

    FDUSD Stablecoin Issuer First Digital Inks $250M SPAC Merger with CSLM

    Question

    FDUSD Stablecoin Issuer First Digital Inks $250M SPAC Merger with CSLM

    Direct answer

    First Digital Group announced a definitive merger agreement with CSLM Digital Asset Acquisition Corp III (KOYN) to list on the Nasdaq stock market. The transaction values the stablecoin operator at a $250 million pre-money valuation. The listing provides dedicated public equity exposure to stablecoin issuance and agentic payment infrastructure, with the firm noting more than $4.7 trillion in historical transaction volume across its FDUSD asset.

    Original publisher
    Market Ontology
    Evidence through
    2026-10-07
    Published
    2026-10-20
    Revision
    1 · 2026-10-20

    Cite as: Market Ontology, “FDUSD Stablecoin Issuer First Digital Inks $250M SPAC Merger with CSLM”, revision 1, evidence through 2026-10-07. https://marketontology.com/market-events/2026-10-07/fdusd-stablecoin-issuer-first-digital-inks-250m-spac-merger-with-cslm-ebfa1f

    CAPITAL
    FDUSD Stablecoin Issuer First Digital Inks $250M SPAC Merger with CSLM
    First Digital Group announced a definitive merger agreement with CSLM Digital Asset Acquisition Corp III (KOYN) to list on the Nasdaq stock market. The transaction values the stablecoin operator at a $250 million pre-money valuation. The listing provides dedicated public equity exposure to stablecoin issuance and agentic payment infrastructure, with the firm noting more than $4.7 trillion in historical transaction volume across its FDUSD asset.
    KOYN
    Impact
    64
    OCT 7
    SIG
    85%
    KOYN
    FDUSD Stablecoin Issuer First Digital Inks $250M SPAC Merger with CSLM
    First Digital Group announced a definitive merger agreement with CSLM Digital Asset Acquisition Corp III (KOYN) to list on the Nasdaq stock market. The transaction values the stablecoin operator at a $250 million pre-money valuation. The listing provides dedicated public equity exposure to stablecoin issuance and agentic payment infrastructure, with the firm noting more than $4.7 trillion in historical transaction volume across its FDUSD asset.
    → Public listing of a major stablecoin issuer provides public equity market valuation benchmarks and regulatory scrutiny for digital asset liquidity infrastructure.
    Impact
    First Digital Group announced a definitive merger agreement with CSLM Digital Asset Acquisition Corp III (KOYN) to list on the Nasdaq stock market. The transaction values the stablecoin operator at a $250 million pre-money valuation. The listing provides dedicated public equity exposure to stablecoin issuance and agentic payment infrastructure, with the firm noting more than $4.7 trillion in historical transaction volume across its FDUSD asset.
    Affected
    KOYN
    Transmission
    Public listing of a major stablecoin issuer provides public equity market valuation benchmarks and regulatory scrutiny for digital asset liquidity infrastructure.

    What happened next

    AssetCallBase close+1 day+5 days+20 days
    KOYNUpdisagreed10.26 2026-10-070.00%PendingPending

    Closing prices from stored daily bars; returns measured from the last close on or before the event date. Not a recommendation.

    No verifiable public source recorded for this card.

    Related

    See today's live cards

    Public pages are published 24 hours after the product shows them. Desk shows every catalyst, event and causal reading as it happens, mapped to your holdings.

    Open Desk — $399/month