Stablecoin based on the Cardano network will be released in 2023

Stablecoin based on the Cardano network will be released in 2023

Emurgo, Cardano’s underlying blockchain platform, is ready to deploy USDA’s native Stablecoin. The new crypto-asset is scheduled for release in early 2023. USDA is expected to be a regulated stablcoin fully backed by fiat.

The USDA product is a component of the Emurgo Anzens program, which will provide customers with a range of asset-based financial services and products in the Cardano ecosystem.

These programs include cryptocurrency-based card payments, lending and borrowing services, and connections between established marketplaces and decentralized applications (dApps).

With this, users will be allowed to tokenize their USDA dollars. This will be possible through both credit and debit cards or even bank transfers and ADA conversions.

Emurgo Fintech managing director Vinit Bhuvanagiri commented on the Cardano team’s decision:

Creating a Stablecoin that is fully fiat backed and regulatory compliant is the next step in realizing the future of our community.