TLDR
EMURGO announced the launch of Anzens USDA stablecoin under new ownership by Encryptus
USDA is a fully-backed stablecoin native to the Cardano blockchain
Encryptus is an institutional-grade trading desk with off-ramping capabilities in over 80 countries
The launch coincides with the EU’s Markets in Crypto-Assets (MiCA) regulation coming into force
EMURGO will continue to support USDA as a technology provider
EMURGO, a founding entity of the Cardano blockchain, has announced the launch of the Anzens USDA stablecoin.
This fully-backed stablecoin, native to the Cardano network, will now be under the ownership of Encryptus, an institutional-grade trading desk.
The launch of USDA comes at a crucial time in the cryptocurrency market. Just last week, the European Union’s Markets in Crypto-Assets (MiCA) regulation came into effect, marking a new era of financial stability, consumer protection, and increased transparency in the stablecoin market.
This regulatory framework is expected to influence global standards, particularly in the $162 billion stablecoin market.
Encryptus, founded in 2021, brings valuable experience to the table. The company specializes in empowering high-volume users with secure and efficient crypto transactions, offering large-scale crypto pay-ins and payouts.
With a European license, VASP status in Lithuania, and off-ramping capabilities in over 80 countries, Encryptus is well-positioned to ensure regulatory compliance and user confidence.
One of the key features of USDA is its ability to provide users with autonomous asset management and seamless, affordable transactions.
This is particularly significant for users in frontier markets, as USDA aims to bridge the gap to critical financial services for both businesses and individuals. The stablecoin will offer access to these markets through affordable liquidity and simplified access to Web3 solutions.
EMURGO’s decision to launch USDA under new ownership comes after facing significant challenges in bringing the stablecoin to market last year. The company had promised to explore alternative ways to launch, and this partnership with Encryptus represents the fulfillment of that promise.
While Encryptus will take over ownership of USDA, EMURGO will continue to play a crucial role as a technology provider. The company will leverage its expertise in developing tokenization platforms to support Encryptus and assist in the seamless transition of USDA. This collaboration extends beyond USDA, as EMURGO is also positioned to support other businesses seeking to tokenize real-world assets.
The launch of USDA under Encryptus ownership brings several exciting features for users. These include worldwide off-ramps, allowing users to buy USDA against widely used currencies, and off-ramping capabilities in over 80 countries. The stablecoin also aims to connect emerging economies to developed ones by providing affordable liquidity and simplifying access to Web3 services.
Encryptus is not new to the Cardano ecosystem. The company has previously partnered with EMURGO, working with the Yoroi Wallet team to integrate an off-ramp solution for ADA-to-fiat conversions in the mobile version of the wallet. This prior experience with Cardano technology should prove valuable in the development and management of USDA.
As the transition period progresses, both EMURGO and Encryptus are actively collaborating to evolve and launch Anzens USDA.
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