The USDM stablecoin was launched on March 17 based on the Cardano network. Unlike other stablecoins on this network, USDM is an analogue of USDT and USDC – it is not algorithmic, but is completely pegged and backed by the US dollar. At the same time, only institutional investors now have access to trading USD Mehen.
“Retail rollout is likely to happen in April. We are now in a limited launch phase, as we call it, an “early deployment of the living mainnet ecosystem,” said Mehen Finance co-founder and partner Matthew Plomin.
One of the features of USDM is that the volume of stablecoin reserves is constantly available through the decentralized oracle Chakli3 on the Cardano network. The data can be integrated into smart contracts, which will make online transactions with USDM more transparent, says Plomin.
It is also noted that USDM is not subject to censorship – there are no functions for blocking funds in the smart contracts of the stablecoin. This makes it more attractive to users, but also puts it at risk from regulators – they can block Mehen Finance accounts in banks where the token reserves are stored in case of any claims.
Recently, the US Department of Justice thanked Tether for assisting law enforcement agencies and helping to block and confiscate the assets of criminals.
Source: Bits

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