Emurgo, the official commercial arm and a founding entity of the Cardano blockchain, has just announced the launch of a new stablecoin called USDA. This stablecoin is the first fully fiat-backed, regulatory compliant stablecoin in the Cardano ecosystem, and is designed to safeguard Web3 companies and consumers from crypto market volatility.
USDA is the first product being brought to market within Anzens, a portal that provides access to regulated financial services products offered within the Cardano ecosystem. With Anzens, anyone will soon be able to tokenize their USD into USDA via credit/debit cards, wire transfer, ACH, or conversion of ADA. Alongside the tokenization of USD, Emurgo will enable the safe and convenient conversion of other stablecoins including USDC and USDT to USDA, with further plans to enable conversion and swaps of cryptocurrencies such as BTC, ETH, and others.
Fueled by Cardano and designed to leverage the stability of the U.S. Dollar, USDA combines the security, low fees, and eco-friendliness of the Cardano blockchain with the stability of the U.S. Dollar. This allows investors to lock in the value of their crypto assets by pegging them 1:1 to the U.S. dollar, reducing volatility and unlocking fast global transactions without legacy banking and payment infrastructure delays.
USDA is planned to launch on the Anzens platform in Q1 2023, and we expect it to be a popular choice for those looking to transact with confidence and safeguard their assets from market volatility. Its combination of stability and security, as well as its low fees, make it a strong competitor to other stablecoins like USDT. We have no doubt that USDA will be a valuable addition to the world of cryptocurrency.