First Digital to go public on Nasdaq via $250M SPAC merger with expected close in H1 2027.
VC & Fundraising ·
First Digital Group, which operates FDUSD, has agreed to combine with CSLM Digital Asset Acquisition Corp III in a transaction that values the company at $250M on a pre-money basis. The merger would bring First Digital to Nasdaq, with completion targeted for the first half of 2027, contingent on regulatory clearance.
The company has demonstrated material trading activity and revenue generation. FDUSD accumulated more than $4.7T in total trading volume through June 30, 2026, while First Digital posted approximately $87M in revenue during fiscal 2025. Management indicated the public listing would unlock access to capital markets funding for expansion of Finance District, its blockchain-based ecosystem.
The regulatory path and final deal conditions remain subject to approval processes. No information has been provided regarding the timeline for regulatory review, potential transaction risks, or terms that could alter the deal structure or valuation.