not approved
Mehen: USDM State Regulatory Fees
Current Project Status
Unfunded
Amount
Received
Received
$0
Amount
Requested
Requested
$26,578
Percentage
Received
Received
0.00%
Solution
MUSD will be the 1:1 fiat-backed, directly-convertible stablecoin built for and by the Cardano Community.
Fiat-backed coin issuers need state money transmitter licenses. This proposal pays state fees
Problem
Cardano needs a fiat-backed stable coin that can be directly converted into fiat 1:1 as an alternative to algorithmic stable coins, and to support those who prefer or need a direct-to-fiat bridge.
Impact / Alignment
Feasibility
Auditability
