First Digital has reached a partnership with South Korea's ITCEN, aiming to connect the gold RWA asset KGLD
First Digital has signed a strategic cooperation memorandum of understanding (MOU) with South Korea-listed ITCEN Group, aiming to build an on-chain financial infrastructure connecting the Korean RWA market with global liquidity. The two parties will link the USD stablecoin FDUSD with KGLD, a digital asset backed by physical gold and built using LayerZero OFT standards under ITCEN's umbrella, providing compliant access channels for overseas investors. ITCEN plans to tokenize 50 tons of gold within the next five years (approximately 10 trillion won, about $7.2 billion). The collaboration will also explore enterprise settlement use cases for FDUSD, while advancing asset tokenization through AI-powered payment layer Prism and the financial ecosystem Finance District. First Digital plans to establish a branch in South Korea by Q4 2026, participating in the local stablecoin regulatory process.
First Digital's MOU with ITCEN links FDUSD to the gold-backed KGLD token and targets $7.2B in tokenized gold over five years. This signals growing institutional interest in RWA tokenization and broadens stablecoin use cases, strengthening the RWA and stablecoin adoption narrative; however, it is an early-stage, non-binding agreement without immediate capital flows, so near-term bullish impact is limited to RWA/stablecoin-related assets and is weak in strength.