Question
First Digital Agrees to $250M SPAC Merger With CSLM Digital Asset Acquisition
Direct answer
First Digital Group, the issuer behind the FDUSD stablecoin, entered into a definitive merger agreement with special purpose acquisition company CSLM Digital Asset Acquisition Corp III (Nasdaq: KOYN). The transaction values the digital asset infrastructure platform at a pre-money equity valuation of $250 million.
First Digital has reported more than $4.7 trillion in cumulative trading volume across its stablecoin product. The transaction represents a notable step in stablecoin issuers accessing traditional US public equity capital markets.
- Original publisher
- Market Ontology
- Evidence through
- 2026-10-07
- Published
- 2026-10-20
- Revision
- 1 · 2026-10-20
Cite as: Market Ontology, “First Digital Agrees to $250M SPAC Merger With CSLM Digital Asset Acquisition”, revision 1, evidence through 2026-10-07. https://marketontology.com/market-events/2026-10-07/first-digital-agrees-to-250m-spac-merger-with-cslm-digital-asset-acquisition-0748ce
First Digital Group, the issuer behind the FDUSD stablecoin, entered into a definitive merger agreement with special purpose acquisition company CSLM Digital Asset Acquisition Corp III (Nasdaq: KOYN). The transaction values the digital asset infrastructure platform at a pre-money equity valuation of $250 million.
First Digital has reported more than $4.7 trillion in cumulative trading volume across its stablecoin product. The transaction represents a notable step in stablecoin issuers accessing traditional US public equity capital markets.
Transmission
01 · Catalyst
First Digital Agrees to $250M SPAC Merger With CSLM Digital Asset Acquisition
02 · Mechanism
Public listing via SPAC provides institutional capital access and regulatory disclosure requirements for stablecoin operator FDUSD.
Sectors
- Financial Technology
- Digital Assets
No verifiable public source recorded for this card.