Cardano Unveils $100 Million ADA Stablecoin Initiative

Cardano has proposed a bold initiative to launch a USD-backed stablecoin, aiming to inject liquidity into its DeFi ecosystem and unlock substantial growth potential. The proposal from Charles Hoskinson, CEO of Input Output Global (IOG), envisions utilizing $100 million in ADA to create the USDM stablecoin, thereby boosting market participation and overall financial infrastructure within the Cardano network.