Cardano, a Tier 1 smart contract network designed to create secure, scalable and resilient decentralized applications, has reached a historic milestone with the launch of Mehen's USDM, a fiat stablecoin.

The Mehen #token (USDM) is a digital value preservation token issued by Mehen Finance that converts to US dollars at a 1:1 ratio; USDM is a native #Cardano token, meaning it can be transferred on the Cardano #blockchain without the need for additional smart contracts. USDM can be used to transfer money on the Cardano blockchain.
In a tweet announcing the arrival of the USDM stubmaster token on Cardano, Mehen said that institutional customers will begin the registration process immediately. This means USDM will gradually appear on the blockchain during the week of March 18.
#CardanoCommunity , $USDM is already here!
As Cardano expands its ecosystem and attracts more users and developers, the launch of USDM is a watershed moment for widespread use of the platform.
USDM tokens are, oddly enough, the first of their kind on Cardano: unlike iUSD and DJED, Mehen's USDM is not algorithmic or synthetic, but fully backed by US dollars at a 1:1 ratio. Users deposit US dollars (USD) into their Mehen account, and Mehen stores them in a separate account for token holders. Once the transaction is complete, the user can mine the same amount of USDM #cryptocurrency tokens.
Last quarter, the ecosystem expanded significantly, with the value of the Cardano stable token increasing 37% quarter-on-quarter and 673% year-on-year; with the debut of Mehen's USDM stable token, the Cardano stable token market is expected to grow significantly.
At the time of writing, the ADA exchange rate has fallen 9.54% in the last 24 hours to $BTC According to crypto analyst Ali, Cardano's price movements so far resemble the pattern seen between 2018 and 2021. According to Ali, if this fractal persists, ADA could consolidate between $0.55 and $0.80 in the coming weeks and then rise to $ 1.70.

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