Cardano Welcomes USDM Stablecoin Amid Hydra Layer 2 Hurdles
Monday, 18 March 2024, 21:30
Cardano New Stablecoin Despite Hydra Delay
Cardano has introduced its first 1:1 fully fiat-backed stablecoin, USDM. This new entrant aims to secure a foothold in the highly competitive $146 billion stablecoin market, predominantly led by giants Tether and Circle.
Mehen Finance Setbacks and Strategy Shift
Mehen Finance faced delays in launching USDM following banking sector turmoil and partner changes. The shift to Plaid for financial operations reshaped the stablecoin's roadmap.
Cardano Embraces USDM for DeFi Progress
- Fresh alternative to Cardano users
- Marked milestone for DeFi ecosystem
- Distinguishes itself with algorithmic and synthetic models
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