<p><span style="color:rgb(250250250/var(--tw-text-opacity));"><strong>A fully backed Cardano stablecoin designed for global money&nbsp;Payments.</strong></span></p>

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Anzens

<div><p><img src="https://cryptoslate.com/wp-content/themes/cryptoslate-2020/imgresize/timthumb.php?src=https://cryptoslate.com/wp-content/uploads/2024/10/bitgo.jpg&amp;w=70&amp;h=37&amp;q=75" alt="BitGo to provide custodial services for Cardano-based USDA stablecoin" /> <span>BitGo to provide custodial services for Cardano-based USDA stablecoin</span> <span> <span> <span>15 mins ago</span> <span>· <span> 2 min read</span> </span> </span> </span> <span></span></p><div><div><p>Cardano has struggled to get a share of the stablecoin market despite the network's importance to the industry.</p><div><div> <p><a target="_blank" href="https://cryptoslate.com/author/oluwapelumi-adejumo/" title="Oluwapelumi Adejumo Profile"> <img src="https://cryptoslate.com/wp-content/uploads/2022/03/oluwapelumi-adejumo-author-150x150.jpg" /> </a></p></div><div> <p><span> 2 min read</span></p><p><span>Updated:</span> Oct. 1, 2024 <span>at 7:16 pm UTC</span></p></div></div></div><div> <p><img src="https://cryptoslate.com/wp-content/uploads/2024/10/bitgo-768x403.jpg" alt="BitGo to provide custodial services for Cardano-based USDA stablecoin" /></p><p>Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.</p></div></div><div><article><p><a target="_blank" href="https://link.cryptoslate.com/brighty-news-article"><img src="https://cryptoslate.com/wp-content/uploads/2024/09/brighty-news-position.jpg" alt="Receive, Manage &amp; Grow Your Crypto Investments With Brighty" /></a></p><p><a target="_blank" href="https://cryptoslate.com/companies/bitgo/">BitGo</a>, a leading digital asset custodian, will offer custodial services for USDA, a <a target="_blank" href="https://cryptoslate.com/coins/cardano/">Cardano</a>-based stablecoin, according to an Oct. 1 <a target="_blank" href="https://www.emurgo.io/press-news/usda-stablecoin-strengthened-through-anzens-bitgo-collaboration/">press release</a>.</p><p>The collaboration involves BitGo Trust, USDA’s issuer Anzens, and EMURGO, the tech provider behind the Anzens platform. Their combined efforts will focus on creating a secure stablecoin solution for the Cardano blockchain that would also bolster USDA’s security and functionality by integrating it within advanced financial infrastructure.</p><p>According to the release, <a target="_blank" href="https://cryptoslate.com/wbtc-creator-bitgo-challenges-tether-circle-with-reward-focused-usds-stablecoin/">BitGo’s</a> its involvement will strengthen USDA’s security and efficiency, aligning with Anzens’ goal of bridging traditional finance and crypto ecosystems. The partnership will streamline and ensure compliance for minting, burning, and custody services.</p><p><a target="_blank" href="https://cryptoslate.com/paypals-pyusd-stablecoin-shrinks-30-in-a-month-as-defi-yields-on-solana-plummet/">Stablecoins</a> remain vital to the crypto industry due to their extensive use in remittances and payments. These digital assets are designed to maintain value, shielding users from the volatility typical of other cryptocurrencies. As of Oct. 1, stablecoins had a $173 billion market cap, reflecting their significant relevance in the crypto industry.</p><p>Despite their importance, <a target="_blank" href="https://cryptoslate.com/usdm-emerges-as-cardanos-inaugural-fiat-anchored-stablecoin-in-a-buoyant-market/">Cardano has struggled</a> to capture a significant market share, with stablecoins issued on Ethereum and TRON controlling nearly <a target="_blank" href="https://cryptoslate.com/tether-supply-reaches-unprecedented-84-billion-amidst-etf-driven-bitcoin-rally/">90% of the market</a>, according to data from DeFiLlama.</p><h2>USDA’s comeback</h2><p>Meanwhile, this development occurs as USDA attempts to make a comeback after a hiatus in 2023. At the time, the Anzens team abruptly paused communication with the community because of the regulatory uncertainty surrounding the stablecoin sector.</p><p>However, <a target="_blank" href="https://cryptoslate.com/companies/emurgo/">EMURGO</a> revealed that the digital asset would launch under new ownership later this year. According to <a target="_blank" href="https://forum.cardano.org/t/the-usda-project-is-back/134842">information</a> on Cardano’s Forum, the USDA stablecoin would be launched by Encryptus, a Dubai-based platform that was established in 2020.</p><p>According to the platform:</p><blockquote><p>“[Encryptus] facilitates seamless buying and selling of crypto assets, offering conversion to local currencies. Encryptus is compliance-centric, holding a European license, VASP status in Lithuania, and boasting the largest payout network spanning over 80 countries.”</p></blockquote><p>The firm further stated that users can buy and sell USDA via the Anzens website after completing know-your-customers (KYC) verification. USDA will also be available through select partners and redeemable 1:1 for USD. Users in over 80 countries will have access to the stablecoin in their local currencies.</p><h6>Mentioned in this article</h6><div><h5>Latest <span>Cardano</span> Stories</h5></div><div><h5>Latest Press Releases</h5></div></article></div></div>

Cryptoslate

BitGo to provide custodial services for Cardano-based USDA stablecoin

<p>The USDA was initially considered to become one of the first USD-backed stablecoins that will be launched in the Cardano ecosystem.&nbsp;</p><p>However, in 2023, the Anzens team notified the community of regulatory complications, and communication soon ceased. Many believed that the USDA project would never materialize.&nbsp;</p><p>Meanwhile, Mehem's USDM launched and became the first USD-backed stablecoin in the Cardano ecosystem. Now, the USDA project is making a comeback with a new, strong partner. USDA Is Back with a Strong Partner On July 8, EMURGO announced that the Anzens USDA stablecoin will be launched by Encryptus.</p><p>EMURGO will continue to support the launch as a technology provider. Encryptus, an institutional-grade platform, was founded in 2020 in Dubai, United Arab Emirates.&nbsp;</p><p>The company faci Read article: <a href="https://cexplorer.io/article/the-usda-project-is-back">The USDA Project Is Back</a></p>

Cexplorer

The USDA Project Is Back

<p style="margin-left:0px;">EMURGO is thrilled to announce that the Anzens USDA stablecoin will launch under the seasoned crypto team Encryptus, with the EMURGO team continuing to support the upcoming launch as a technology provider.&nbsp;</p><p style="margin-left:0px;">Last year, we faced significant headwinds when bringing USDA stablecoin to market and <a href="https://www.emurgo.io/press-news/a-product-update-on-anzens-and-usda-stablecoin/">promised an exploration</a> of alternative ways to launch.&nbsp; The upcoming launch under Encryptus marks a delivery on our promise with a team ideally positioned to take USDA to new heights.</p><p style="margin-left:auto;"><strong>USDA to be Launched by Experienced Institutional-Grade Trading Desk Encryptus</strong></p><p style="margin-left:0px;">Founded in 2021, Encryptus empowers high-volume users with secure and efficient crypto transactions, offering large-scale crypto pay-ins and payouts. Encryptus’ trading desk model removes intermediaries, offers competitive fees, and provides seamless transactions with the option to convert to local currencies. In addition to their experience, Encryptus is a compliance-centric crypto team. With a European license, VASP status in Lithuania, and the largest payout network spanning 80+ countries, their industry-leading off-ramp services ensure regulatory compliance and user confidence.</p><p style="margin-left:0px;">With a strong background in large-scale efficient crypto transactions, Encryptus is also no stranger to Cardano. They have already partnered with EMURGO, working with the Yoroi Wallet team to integrate an off-ramp solution to allow ADA-to-fiat conversions in the mobile version of the wallet, expanding the functionality for those times when Cardano users need to settle in the real world.&nbsp;</p><p style="margin-left:0px;text-align:center;"><a href="https://www.emurgo.io/press-news/ada-to-fiat-offramp-now-in-yoroi-wallet-via-encryptus/"><i>Read the Announcement: ADA-to-Fiat Offramp Now in Yoroi Wallet via Encryptus</i></a></p><p style="margin-left:0px;">USDA users can count on Encryptus to be dedicated to building the future of USDA, a fully backed stablecoin native to Cardano that users can manage autonomously, transferring it to anyone, quickly and cheaply.&nbsp;&nbsp;</p><p style="margin-left:0px;">The Encryptus team has years of experience running a compliant trading desk and building relationships with high-volume users in the crypto world, focusing on empowering businesses and emerging markets with a regulation-first approach.</p><p style="margin-left:0px;">Look forward to exciting new features such as:&nbsp;</p><ul><li>Worldwide off-ramps: Seamlessly buy USDA against widely used currencies, with off-ramping capabilities in 80+ countries.</li><li>Access to frontier markets: Connecting emerging economies to developed ones by providing affordable liquidity.</li><li>Simplifying access to Web3: Bridging the gap to traditional financial services for businesses and individuals in need.</li></ul><p style="margin-left:0px;">And much more!&nbsp;</p><p style="margin-left:0px;text-align:center;"><a href="https://www.anzens.com/"><i>Check out the newly launched website</i></a></p><p style="margin-left:auto;"><strong>EMURGO’s Evolution and Support</strong></p><p style="margin-left:0px;">Building on the extensive expertise acquired in developing a tokenization platform last year, EMURGO is uniquely positioned to deliver robust and innovative blockchain infrastructure support to the Encryptus team.&nbsp;</p><p style="margin-left:0px;">This collaboration also extends to any business seeking to tokenize real-world assets.&nbsp;&nbsp;</p><p style="margin-left:0px;">As the technology provider behind the Anzens platform, EMURGO looks forward to enabling the new features envisioned by Encryptus.&nbsp; The goal is to assist in a seamless transition with the same ethos that meets and exceeds users’ needs.</p><p style="margin-left:auto;"><strong>Looking Forward</strong></p><p style="margin-left:0px;">Looking ahead during this transition period, EMURGO and Encryptus are heads down collaborating to evolve and launch Anzens USDA.&nbsp;&nbsp;</p><p style="margin-left:0px;">The community may stay tuned for updates by signing up on the brand-new <a href="http://anzens.com/">website</a> and following the Anzens account on social media <a href="https://twitter.com/anzensofficial">@anzensofficial</a>.&nbsp;</p><p style="margin-left:0px;text-align:center;"><a href="http://anzens.com/"><i>Get updated on the Anzens USDA launch</i></a></p><p style="margin-left:0px;">If you are a business that would like to partner with USDA, contact <a href="mailto:info@anzens.com">info@anzens.com</a>.</p><p style="margin-left:0px;">Thank you for being a part of the Anzens USDA community.</p><p style="margin-left:0px;"><strong>Disclaimer&nbsp;</strong></p><p style="margin-left:0px;"><i>You should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained herein shall constitute a solicitation, recommendation, endorsement, or offer by EMURGO to invest.</i></p>

Anzens ($USDA)

Issuer of USDA, a fully reserved stablecoin built for Cardano. Enabling digital dollar transactions with compliance and security in mind.

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