🌟 Exciting News Alert!🌟

Calling all crypto enthusiasts! Get ready to dive into the future of stablecoins with the groundbreaking launch of USDM by Mehen Finance, the pioneer in Cardano ecosystem stablecoin issuance protocols! 💥

Imagine a world where you can effortlessly mint or exchange USDM with US dollars, all at your fingertips. Thanks to the innovative collaboration between Mehen Finance and fintech powerhouse Plaid, this dream is now a reality! 🚀

But that's not all! Mehen Finance is on a mission to redefine the financial landscape, actively seeking licenses for money transfer and virtual asset services in the UK and Europe. This means greater accessibility and convenience for users across borders! 🌍💰

Despite facing hurdles along the way, including delays due to shifting banking partnerships, Mehen Finance remains undeterred in its quest to empower individuals worldwide with the power of decentralized finance. 💪

Don't miss your chance to be part of this revolutionary journey. Join us as we usher in a new era of stability, security, and seamless transactions with USDM by Mehen Finance. Your future in finance starts here! 🔥 #MehenFinance #USDM #Cardano #StablecoinRevolution $USDM $USDC

The USDM stablecoin appeared on the Cardano network

The Mehen Finance project launched the US dollar-pegged stablecoin USDM on Cardano, albeit with a significant delay.

The USDM mechanism allows you to issue and redeem an asset through the dollar. This is in contrast to Cardano's already-powered stablecoins Djed and iUSD, which are algorithmic and synthetic respectively.

The Mehen Finance team published the stablecoin white paper in November 2022.

Project founding partner Matthew Plomin confirmed during an AMA session at X Spaces that the coin was planned to launch in 2023. That all changed, however, as regional U.S. banks struggled when Silicon Valley Bank, Silvergate and Signature Bank closed their doors about a year ago.

According to Plomin, Mehen's remaining banking partner, Cross River, also severed ties, switching to cooperation with Circle, the issuer of the second-largest stablecoin, USDC.

As a result, the team turned to the services of fintech startup Plaid to ensure the issuance and redemption of USDM. According to a message from Mehen CTO Siten Fischer, cooperation was established in August 2023.
#Cardano #ADA #USDM #adausdt #HotTrends
$ADA

Mountain Protocol has raised $8M in a Series A funding round led by Multicoin Capital and participated by other investors.

The USDM is the first prudentially regulated, yield-bearing stablecoin, which means it is backed by a stable currency and earns interest.

#MountainProtocol #USDM #stablecoin #TopCoinsJune2024 #BnbAth

Mountain Protocol's USDM, the first permissionless yield-bearing stablecoin, is now live on Injective!

Users can earn yield while using USDM for trading, lending, and other DeFi activities.

USDM is bridged into Injective as wUSDM, reflecting the current price and yield. This eliminates the need for rebasing, and wUSDM will steadily increase by 5% annually, providing a consistent yield to users.

#MountainProtocol #USDM #Defi #ETH_ETFs_Trading_Today #injective $INJ

breaking News 🔥🔥🔥
Mountain Protocol is launching on @Injective to bring the first native yield-bearing stablecoin #USDM into the Injective ecosystem 🚀

What is USDM !

USDM is a stablecoin backed by treasury bills, providing a secure foundation. Unlike most other stablecoins, USDM allows users to earn and retain daily yield on their holdings

This integration of Mountain Protocol with Injective and the introduction of USDM will unlocks a number of novel use cases like utilized as margin for trading derivatives on DEXs built on #Injective

$INJ 🥷🚀
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