Cardano (ADA) Commercial Arm Unveils Plan To Launch Fiat-Backed Stablecoin Pegged to US Dollar

The commercial arm of the Cardano (ADA) blockchain has revealed plans to launch a new fiat-backed crypto asset pegged to the US dollar.

new publicationEMURGO says it is preparing to launch USDA, the first-ever USD-backed stablecoin for the Cardano ecosystem, early next year.

According to EMURGO, the stablecoin will combine the enduring stability of the US dollar with the high security, low fees and environmental friendliness of the ADA blockchain to protect investors and Web3 companies from crypto market volatility. was created to

The company also states that the crypto asset is guaranteed to be backed 1:1 and is fully compliant with current regulations, making the product a cross between traditional finance and decentralized finance (DeFi). It aims to bridge the gap between

EMURGO partners with a U.S.-based regulated financial services firm to manage cash deposits to ensure that the stablecoin is fully compliant and compliant with regulatory guidelines.

Backed by ‘real world’ assets, the USDA could provide strong long-term price stability and ultimately lead to the opening of more reliable financial services to the Cardano ecosystem. .

USDA is the first product to be marketed in the United States. [Anzens and] EMURGO’s new suite of products aimed at bridging the gap between traditional finance and DeFi.

According to the announcement, EMURGO’s Anzens product line will not only provide a portal to products offered on the Cardano blockchain, but also allow users to tokenize their dollars and move them around as native ADA assets.

EMURGO was launched earlier this year as a way to accelerate the development of decentralized applications (DApps) on Cardano. This unfolded in his two stages. The first stage will provide a modular toolkit, and his first stage will give developers access to his ADA ecosystem.

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