Emurgo, the commercial arm and one of the co-founders of the Cardano project, plans to launch USDA, a stablecoin linked to the USD. The tool is reportedly scheduled to launch on the mainnet in the first quarter of 2023.
The USDA will become part of the Anzens platform, which will offer users various Cardano-based financial services and products. In particular, the developers plan to launch a landing service.
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According to the press release shared by the developers, the instrument is a stablecoin backed 100% by fiat money and "compliant." Holding the reserves and deposits will be handled by Emurgo's partner, an unnamed "US-based regulated financial company."
The USDA is expected to play an important role in the development of the Cardano ecosystem and potentially increase its resilience.