US Users in 19 States Can Now Mint MiCA-Compliant USDM Stablecoin

This development marks a significant step towards mainstream adoption of stablecoins, emphasizing both regulatory compliance and user accessibility within the cryptocurrency space.

Currently, individuals residing in or physically present as international visitors within these 19 U.S. states can utilize Moneta’s platform to mint USDM. The process involves depositing U.S. dollars and receiving an equivalent amount of USDM tokens on-chain at a 1:1 ratio. This new functionality provides a more direct way for users to engage with blockchain ecosystems, such as Cardano’s, without the sole reliance on third-party cryptocurrency exchanges.

Stablecoins play a vital role in the digital asset economy by offering a price-stable bridge between traditional finance (TradFi) and the often-volatile cryptocurrency market. Pegged to fiat currencies like the U.S. dollar and backed by reserves, stablecoins facilitate various applications, including payments, lending, and trading.

READ MORE:

Coinbase to Delist Five Tokens on May 16

USDM’s adherence to Europe’s MiCA regulation, a pioneering legal framework for digital assets, positions it as a potentially trusted and transparent stablecoin for both U.S. and international users seeking compliant options. This launch also aligns with Cardano’s long-standing marketing as a blockchain platform geared towards builders, governments, and enterprises, providing its ecosystem with a compliant and readily mintable stablecoin. The availability of retail minting in the U.S. signifies a growing commitment to making stablecoins more accessible and integrated into the broader financial landscape.

The post US Users in 19 States Can Now Mint MiCA-Compliant USDM Stablecoin appeared first on Coindoo.