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Tech & Science: First StableCoin on the Cardano blockchain in the starting blocks

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StableCoins are considered to be relatively safe in the cryptocosm. The Terra/Luna drama in spring missed the reputation of cryptocoins an enormous dampers. Nevertheless, with USDA, the first stable coin for the Cardano blockchain is now in the starting blocks.

Andrew Burton/Getty Images © provided by Andrew Burton/Getty Images

• First StableCoin for Cardano planned for 2023

• Banking for Underbanked

• Regulatory conformity in view

The developer of the Cardano blockchain and its commercial arm, Emurgo first cardano stable. USDA is said to be called the coin and linked to the US dollar .

#emurgo , the Official Commercial Arm and a Founding Entity of the @Cardano #Blockchain , Announces the Planned Launch of Its New U.S. Dollar-Backed StableCoin, #usda . A first fully fiat-backed, regulatory compliant #stablecoin in the #cardano ecosystem.

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- Emurgo (@emurgo_io) November 18, 2022

Banking for humans without access to banking services

"The Cardano ecosystem was on the ethos built up to bring real applications into the crypto world and to create the basis for the establishment of the economy of the future, "Vineeth Bhuvanagiri, Managing Director of Emurgo, is quoted in a press release. "The introduction of a fully supported, regulatory-compliant stable coin is the next step to realize the future for our community," continued Bhuvanagiri.

USDA is planned as an asset that is freely tradable on Cardano and is intended to offer investors stability in financial transactions on the blockchain. In addition, the coin should pave the way for the Cardano ecosystem to solve a problem for which its company is uniquely positioned: to enable people who do not have sufficient access to services and products from the financial sector that are aimed at private customers .

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is planned to start USDA on the Anzens platform in early 2023. Users should then be able to tok their US dollars in USDA via credit/debit cards, bank transfer, oh or the conversion of ADA . In addition to the tokenization of USD, Emurgo also wants to enable the safe and comfortable conversion of other stable coins, including USDC and USDT, in USDA. There are also other plans to enable the conversion and exchange of cryptocurrencies such as Bitcoin and Ethereum .

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in the press release, Emurgo points out that the stable coin is regulatory. In order to ensure this, a partnership with a financial service company based in the United States has been received, "to keep cash deposits and ensure that the stablecoin is completely compliant and complies with the regulatory guidelines". The company's name was not mentioned as part of the statement.


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