🎉Good news! Cardano’s ecological stablecoin USDM will soon be available to retail investors! Developer Mehen Finance has announced that it will launch USDM to retail investors next month. The stablecoin was officially launched on Cardano on March 17, but is currently only available to institutional users.

🔍USDM’s model is similar to other fiat-backed stablecoins, but with features to prevent over-minting. Its reserves are reported via the Cardano network’s Charli3 oracle, ensuring real-time and transparent transfers. While USDM cannot be frozen on-chain, Mehen holds its reserves in Fidelity and Western Asset Management’s Government Money Market Mutual Funds.

🌐Mehen is licensed in 17 US states and plans to apply for money transmission and virtual asset service provider licenses in Europe and the UK later this year. Additionally, Mehen plans to make its first investment via equity crowdfunding (which will be conducted on the crowdfunding platform ChainRaise) rather than a token sale. Let us wait and see what new changes USDM will bring to the cryptocurrency market! 🚀