What is USDM?

USDM is a regulated USD-backed e-money token issued on the Cardano blockchain as a Cardano Native Token (CNT). Each USDM is backed 1:1 with USD or equivalent assets, held in segregated reserve accounts. It’s designed for seamless blockchain-based transactions while complying with the EU’s MiCA regulation.Issued in the EEA by NBX (Norwegian Block Exchange) and in USA by Moneta, USDM combines the transparency of decentralized finance with the legal protections of traditional finance. Transfers are fast, low-cost, and happen natively on Cardano — with no need for smart contracts.

Whitepaper for USDM can be found on our USDM dedicated page as NBX is an issuer of USDM through our partnership with Moneta.

Cardano Native Tokens (CNTs) are typically early-stage digital assets that may lack proven product-market fit and are subject to market volatility, regulatory uncertainty, and technological risks; users should conduct independent research and exercise caution before investing or transacting.

Note: This article does not constitute financial advice.

Buy USDM securly through NBX

Buy USDM with ADA through NBX when available, the most AML-compliant cryptocurrency exchange in Europe. Create an account within minutes and start buying USDM.

Buy USDM

USDM is a fiat-backed stablecoin issued on the Cardano blockchain. While USDM is designed to maintain a stable value relative to the US Dollar, stability is not guaranteed. Risks may include reserve management risks, counterparty risks related to the issuer, smart contract vulnerabilities, and regulatory uncertainties.

NBX does not provide any guarantee regarding the value or redeemability of USDM. Purchasing or holding USDM carries risk, including the potential for a loss of value relative to fiat currency.

NBX does not provide investment advice. Users should conduct their own due diligence and carefully consider the risks associated with stablecoins before buying or using USDM.

Learn more about cryptocurrency risks here: https://nbx.com/en/terms-of-service

History

2023–2024: USDM is developed by Moneta and in 2024 with a partnership with NBX is the first MiCA-compliant stablecoin on Cardano.

September 2024: USDM's official whitepaper is filed with the Norwegian FSA (Finanstilsynet).

Q4 2024: USDM launches on NBX and various decentralized exchanges in the Cardano ecosystem.
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2025: Ongoing expansion into DeFi apps, integrations with stablecoin liquidity protocols, and utility in on-chain payment systems.

Technology

Cardano Native Token (CNT): USDM is minted directly as a CNT using a secure multi-signature smart contract and oracle attestation system.

No Smart Contract Needed for Transfers: Unlike ERC-20 tokens, USDM uses Cardano’s native ledger, making transfers more secure and efficient.

Charli3 Oracle Integration: All minting is governed by an oracle system (Charli3) that verifies 1:1 backing before tokens are created.

On-Chain Traceability: Mint/burn data and total supply are stored on-chain in a special "counter UTXO".

Future-Ready: Designed to support various features comming to the Cardano ecosystem when available.

Governance & Compliance

Regulated Issuers: NBX (EU/EEA): Licensed as an e-money institution in Norway, authorized under MiCA.Moneta (USA): Registered MSB with FinCEN in the USA.

1:1 USD Reserves: Held in segregated accounts, money market funds, and other low-risk instruments.

Redemption Rights: Users can redeem at par at any time, pending AML verification.
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Environmental Efficiency: Runs on Cardano, a Proof-of-Stake blockchain with extremely low energy usage.

Tokenomics

Metric	Description
Token Type	Cardano Native Token (CNT)
Backing	1:1 with USD in segregated accounts
Issuer (EU/EEA)	Norwegian Block Exchange (NBX)
Issuer (USA)	Moneta Digital LLC
Blockchain	Cardano (UTXO model)
Oracle System	Charli3 decentralized oracle (attests to reserves)
Smart Contract Logic	Minting/Burning only possible with reserve verification and multisig control
Energy Efficiency	Runs on Cardano's PoS blockchain — ultra low CO₂ and WEEE footprint

USDM Ecosystem & Resources

Platform / Partner	Description
Moneta Digital	USDM's US issuer and compliance infrastructure partner, registered MSB with FinCEN in the U.S.
@usdm_stream on X	Bot that notifies of any new mints or burns of USDM.
NBX.com	Primary EU/EEA issuer and exchange partner — enables fiat on/off ramp, trading, and redemption of USDM under MiCA.
NBX Blog – USDM Adoption	Blog covering how USDM is gaining traction in the Cardano ecosystem through wallet, DEX, and community integrations.
Charli3 Oracle	Feeds verified reserve data to USDM’s mint/burn logic — decentralized, transparent, and native to Cardano.

Frequently Asked Questions

Question	Answer
What is USDM?	USDM is a regulated USD-backed e-money token issued by NBX and Moneta on the Cardano blockchain.
Where can I use USDM?	You can use USDM on NBX, send it to any Cardano address, or trade it on DEXes like Minswap, VyFi, Wingriders, and more.
Can I redeem USDM for dollars?	Yes. Verified users in the EEA can redeem USDM for USD at any time at par value through NBX and US customers can redeem through Moneta.
What makes USDM different from other stablecoins?	USDM is fully regulated under MiCA, operates on Cardano, and uses transparent reserve attestation via Charli3 oracles.
Is USDM energy efficient?	Yes. It uses Cardano's Proof-of-Stake system and has one of the lowest CO₂ footprints among stablecoins.
Where can I learn more?	Visit nbx.com/en/usdm or read the official whitepaper.