Cardano has released a new stablecoin backed by the dollar (ADA) mainnet.
You can also find out more about the following: financial firm Mehen launched The USDM stablecoin was launched over the weekend. It is expected that institutions will spend one or two days onboarding this asset.
The Issuer says The stablecoin is a new currency that will be able to “slowly be arriving on-chain” This week.
Mehen says The following are some examples of how to get started: USDM The dollar is equal to the amount of money in an American bank.
USDM “represents a paradigm change in the stablecoin world, as it bridges the gap that exists between the traditional fiat currencies of the past and the decentralized blockchain realm. Backed by verifiable reserves and leveraging the Cardano network’s robust infrastructure, USDM sets a new standard for stability, transparency, and efficiency in the digital asset space…
Cardano’s ecosystem is evolving, and initiatives like USDM demonstrate the platform’s commitment to global empowerment through innovation.”
ADA has fallen 4.48% over the last 24 hours and currently trades at $0.632.
This year, the ninth-ranked cryptocurrency asset in terms of market capitalization has not seen gains as high as those experienced by other cryptos with large caps.
Ethereum) (ETHAccording to, the competitor has only increased by around 1.3% from 2024’s start and is still nearly 80% below its September 2021 high of $3.09 CoinGecko.
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