Cardano developer Emurgo to issue fiat-pegged stablecoin called USDA
Cardano developer Emurgo announced plans to issue a U.S. dollar-pegged stablecoin called USDA on the network in early 2023. The Cardano developer also revealed that USDA will be the first delivery from its Anzens product market line. Anzens is the Cardano developer’s financial services product, created to bridge crypto and real-world finance. Stablecoins have become an integral part of the crypto trading and credit ecosystem. Major Layer 1 networks including Ethereum, BNB Chain and Solana have stablecoins. These stablecoins facilitate activities like trading, borrowing, lending and staking, among others. Such stable currencies offer a means of transferring value between the crypto and broader financial markets. They also help users store value, as crypto tokens tend to have volatile price movements.
