Cardano Has A Unique USD-backed Stablecoin USDM

The Cardano community celebrates as Mehen’s USDM, the pioneer USD-backed stablecoin within the Cardano network, was successfully launched on March 16, 2024. The onboarding process for institutional customers commenced on March 18, marking the official on-chain debut of USDM. Although the initial launch was planned for December 19, 2023, the Mehen team had to postpone it. Fortunately, the second attempt was successful. USDM is the first stablecoin we know of where no authority can force account freezes or censor transactions.

This article was prepared by Cardanians with support from Cexplorer.

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