EMURGO will Launch Cardano’s First Regulated Stablecoin, USDA, in Q1 of 2023

let atwWrapper,atwContainerWidth,atwSliderBox,atwTotalWidth; function initATWSlider() { atwWrapper = $('.relatedInstruments'); atwSliderBox = atwWrapper.find('.slider'); atwContainerWidth = atwWrapper.width(); atwTotalWidth = atwSliderBox.width(); if(window.domainId === '2' || window.domainId === '3'){ atwWrapper.find('.sliderRight').addClass('js-slider-prev'); atwWrapper.find('.sliderLeft').addClass('js-slider-next'); } else { atwWrapper.find('.sliderRight').addClass('js-slider-next'); atwWrapper.find('.sliderLeft').addClass('js-slider-prev'); } if(atwSliderBox.find('.instrumentBox').length > 6){ atwWrapper.find('.js-slider-next').fadeIn(600); } } function atwMoveRight() { atwWrapper.find('.js-slider-prev').fadeIn(150); $(".slider > :visible:first").hide(150) $(".slider > :visible:last").next().show(150); if(!$(".slider > :visible:last").next().find('.name')()){ atwWrapper.find('.js-slider-next').fadeOut(150); return; } } function atwMoveLeft() { atwWrapper.find('.js-slider-next').fadeIn(150); $(".slider > :visible:last").hide(150); $(".slider > :visible:first").prev().show(150); if(!$(".slider > :visible:first").prev().find('.name')()){ atwWrapper.find('.js-slider-prev').fadeOut(150); return; } } initATWSlider(); //update star icon on adding/removing instrument to/from specific watchlist atwWrapper.on('click', 'label.addRow', function() { let parent = $(this).parent(); let checkedPortfolio = false; parent.find('input[type=checkbox]').each(function () { if($(this).is(':checked')){ checkedPortfolio = true; } }); let closestStar = $(this).closest('.addToPortWrapper').find('.star'); if(checkedPortfolio){ closestStar.addClass('added'); }else{ closestStar.removeClass('added'); } }); //update star icon on creating new watchlist atwWrapper.find('.js-create-watchlist-portfolio').find('a.js-create').on('click',function () { let parent = $(this).parent(); let watchlistName = parent.find('input[type=text]').val(); if(!watchlistName){ return; } let star = $(this).closest('.addToPortWrapper').find('.star'); star.addClass('added'); }); //update star icon on adding new position atwWrapper.find('.js-create-holdings-portfolio').find('.js-submit').on('click',function () { let addPositionForm = $(this).closest('.addToPortfolioPop').find('.holdingsContent'); let amount = addPositionForm.find('.js-amount').val(); if(amount < 1){ return; } let star = $(this).closest('.addToPortWrapper').find('.star'); star.addClass('added'); }); atwWrapper.find('.instrumentBox').find('.shortInfo').on('click',function () { if(!window.ga){ return; } let pairId = $(this).parent().find('.js-add-to-portfolio').attr('data-pair-id'); let pairType = window.atwPairTypes[pairId]; window.ga('allSitesTracker.send', 'event', 'content', 'symbol link clicked', '', { "dimension147":"symbol_link_clicked", "dimension163":"click", "dimension148":"symbol", "dimension162":"content add to watchlist", "dimension161":"article page", "dimension142":"article", "dimension75":pairType, "dimension138":pairId, "dimension118":"2949160" }); window.open($(this).attr('data-href')); }); window.atwPairTypes = {"1073899":"currency","1158819":"currency"};

EMURGO, the official commercial arm and a founding entity of the Cardano (ADA) project, has announced the launch of the first fully fiat-backed, regulatory-compliant stablecoin; USDA, for the Cardano ecosystem.

Cardano to get a fully regulated USD-backed stablecoin

EMURGO announced that it has formed a partnership with a U.S.-based regulated financial services company to develop the first fully fiat-backed, regulatory-compliant stablecoin in the Cardano ecosystem.

USDA, the stablecoin developed by EMURGO, will be backed by the U.S. Dollar, combining Cardano’s low-cost, fast and resource-efficient infrastructure with the stability of the USD. The stablecoin will launch before the end of Q1 2023.

Vineeth Bhuvanagiri, Emurgo’s Fintech Managing Director, said that “the introduction of a fully fiat-backed, regulatory-compliant stablecoin is the next step in realizing the future for our community.” EMURGO says that the USDA stablecoin will solve the ADA price volatility that has been restricting users from taking full advantage of the permissionless and global nature of Cardano. EMURGO tweeted:

.tweet-container,.twitter-tweet.twitter-tweet-rendered,blockquote.twitter-tweet{min-height:261px}.tweet-container{position:relative}blockquote.twitter-tweet{display:flex;max-width:550px;margin-top:10px;margin-bottom:10px}blockquote.twitter-tweet p{font:20px -apple-system,BlinkMacSystemFont,"Segoe UI",Roboto,Helvetica,Arial,sans-serif}.tweet-container div:first-child{ position:absolute!Important }.tweet-container div:last-child{ position:relative!Important }

Backed by “real-world” assets, #USDA provides strong, long-term price stability that may eventually lead to unlocking more reliable financial services to the Cardano ecosystem. @AnzensOfficial

— EMURGO (@emurgo_io) November 18, 2022

The EMUGRO Anzens suite

The USDA stablecoin is part of Emurgo’s Anzens suite of products. This line is aimed at bridging the gap between “traditional financial institutions (TradFi) and decentralized finance (DeFi) protocols.”

According to EMURGO, the Anzens suite will also include lending and borrowing services, crypto-based card payments, and bridges between traditional markets and dApps.

On the Flipside

• The Cardano team, in collaboration with the COTI network, has been developing an algorithmic stablecoin called “Djed” for its ecosystem.

Why You Should Care

The introduction of the USDA stablecoin has been predicted to help to bolster Cardano’s DeFi ecosystem. It will do so by making it more sustainable, robust, and flexible.

Read about the latest Cardano wallet in:

Cardano (ADA) Settles After Charles Hoskinson’s Lace Wallet News Trigger Price Spike

Cardano’s invite to Dogecoin is covered below:

Charles Hoskinson Invites Dogecoin (DOGE) to Become a Cardano (ADA) Sidechain for Free

See original on DailyCoin