Cardano to Get First USD-Backed Stablecoin by 2023, With New P | Crypto ▪︎ Bitcoin ▪︎ Trading ▪︎ News
Cardano to Get First USD-Backed Stablecoin by 2023, With New Privacy Blockchain and Token
Cardano will finally have its own fiat-backed stablecoin after one of its founding entities, EMURGO, announced that the USDA stablecoin will launch on the proof-of-stake network in the first quarter of 2023. The US Dollar will fully back the stablecoin to ensure that it provides long-term price stability. EMURGO said it has a partnership with an unnamed regulated financial services company in the US that will act as the custodian for cash deposits. It also noted that USDA would be the first product coming from its new suite, Anzen. This suite will focus on connecting traditional financial services to crypto. users can tokenize their dollars and use them on the Cardano blockchain network.
