Emurgo (Cardano) aims to launch a dollar stablecoin in early 2023

Early 2023, Emurgoa founding entity of Cardanoplans to issue theUSDAa stablecoin backed by the greenback.

Emurgothe commercial arm of the network Cardanointends to launch a stablecoin backed by the U.S. dollarreports Coindesk this Friday. Called USDAThe digital currency is expected to make its debut in. first quarter of 2023.

USDA will be the first fully guaranteed and compliant fiat stablecoin in the Cardano ecosystem.” has been unveiled Emurgo.

L’USDA should be launched through your Anzenswhich will allow the conversion of dollars into USDA through “credit/debit cards, wire transfers or conversion ofADA “, according to Emurgo.

The company has reportedly signed a partnership with a regulated financial services company in connection with the issuance of its future token. However, Emurgo did not specify the identity of its partner.

In a blog entry published last month, Emurgo listed the 3 main reasons Why Cardano “might need a dollar-backed stablecoin”.

“1) Stable coins backed by dollar reserves could boost Cardano investor confidence 2) Provide stable financial services for ADA holders 3) The future of algorithmic stablecoins has become more uncertain since the collapse of LUNA”

September, Emurgo announced it would invest $200 million to support the growth of the ecosystem. Cardano.