USDM Adoption in the Cardano Community
USDM, a fiat-backed stablecoin, has become a cornerstone for decentralized finance (DeFi) protocols and instant on-chain payments within the Cardano ecosystem. Here are some notable examples of USDM integration:
- Yamfore: A lending & borrowing platform recently was announced through the USDM Official X account with support for USDM.
- Playfix: This AI Web3 Dapp builder will accept USDM for subscription fees and e-commerce payments.
- Genius Yield: Now supports USDM/CNT trading pairs, including stablecoin-to-stablecoin pairs like USDM/iUSD.
- Liqwid Labs: Highlighted the high Supply APY for USDM in their Cardano DeFi pool.
- Veralidity: An Adobe Solutions Partner plans to use USDM for secure and regulated token offerings.
- ZenGate: Intends to facilitate cross-border commodity trades using USDM.
- w3i: In an interview w3i mentioned plans for a pay-at-the-register solution using USDM by 2025.
The Cardano community continues to find innovative uses for USDM, with more solutions expected in 2024 and 2025.
NBX as USDM Co-issuer: Latest Updates
- NBX is partnering with Moneta to co-issue USDM in the EU.
- At the Oslo Cardano Summit 2024 community event, NBX announced:
- USDM trading launch on their platform in Q4 2024.
- USDM minting and redemption capabilities coming in Q1 2025.
- On September 26th, NBX released a Norwegian press statement disclosing:
- Submission of USDM issuance documentation to the Norwegian financial supervisory authority.
- Potential publication of an EU USDM issuance and redemption White Paper as early as October 28th.
- On October 24th, NBX announced in interviews the availability of the USDM landing page.
- The EU whitepaper is now available to the public and can be fund on the landing page.
Additional Resources
- For Cardano price movements, visit our dedicated Cardano Price page.
- Compare Cardano with other blockchain market caps on our overview page.
- NBX offers Cardano Staking through our platform and directly to the pool with ticker ANP.
Disclaimer: This article is for informational purposes only and does not constitute investment advice.
