David – Cryptocurrency Expert
Cardano will have its first stablecoin backed by USD
The stablecoin would comply with regulations, according to EMURGO
The Cardano community is happy about this development since it will aid the DeFi market
After one of its founder companies, EMURGO, declared that the USDA stablecoin would debut on the proof-of-stake network. Cardano will at long last have its own fiat-backed stablecoin.
On November 18, EMURGO declared that the stablecoin will be entirely compliant with all applicable regulations and built to shield Web3 participants from the inherent volatility of the cryptocurrency market. To guarantee that the stablecoin offers long-term price stability, the US Dollar will fully support it.
A US-based, unnamed, licensed financial services firm will serve as the custodian for cash deposits, according to EMURGO, which has cooperation with the firm. Additionally, it mentioned that the debut product from its new Anzen suite will be USDA. This suite will concentrate on integrating cryptocurrency with conventional financial services.
Users can tokenize their dollars and spend them on the Cardano network through the Anzen interface. Lending, bridges between dApps and regular finance and cryptocurrency debit cards are all planned for Anzen.
The latest announcement has been well received by the Cardano community. Before the arrival of USDA, other stablecoins might have also been released on Cardano. In the 4th quarter of 2022, Djed stablecoin is expected to be released.
A stablecoin based on Cardano has been the subject of discussion for some time. According to several observers, it will aid in pushing the Cardano decentralised finance (DeFi) ecosystem, which is currently miles away from its over $300 million peak in March and has a TVL of $53.32 million.
You can buy Cardano now by visiting a well-known cryptocurrency broker BCBitcoin. One of the few crypto buying platforms where you can buy crypto with credit card.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards