{"id":39985,"date":"2025-08-01T14:01:35","date_gmt":"2025-08-01T14:01:35","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=39985"},"modified":"2025-08-01T14:01:35","modified_gmt":"2025-08-01T14:01:35","slug":"cardano-founder-hails-most-advanced-stablecoin-ever-built","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=39985","title":{"rendered":"Cardano Founder Hails \u2018Most Advanced Stablecoin Ever Built\u2019"},"content":{"rendered":"
\n

Cardano founder Charles Hoskinson has intensified the ecosystem\u2019s push into regulated, privacy-preserving digital dollars, declaring on July 31 that \u201cMoneta\u2019s USDM is becoming the most advanced stablecoin ever built.\u201d The remark<\/a>, posted on X, came in the wake of a multi-day workshop in Buenos Aires that he said was \u201cmaking progress on the first Private Stablecoin.\u201d<\/p>\n

Hoskinson\u2019s endorsement dovetailed with a dense technical thread from Cardano developer Andrew Westberg that sketched how a privacy-enabled dollar could satisfy enterprise and legal requirements without turning public ledgers into open books. \u201cThe stablecoin is a small but important piece of the discussion in Argentina. That being said, the complexity is 10x to 20x that of USDM,\u201d he wrote.<\/p>\n

Why Cardano\u2019s USDM Is A Next-Gen Stablecoin<\/h2>\n

Westberg walked the community through a role-based access model that would let a payroll recipient see only their own payment, an accountant see amounts without personal details, a CFO view the whole, and a court-ordered investigator gain full transparency during discovery. \u201cReally cool tech, but it is a cambrian explosion of complexity to build out something where blockchain can truly eclipse and replace tradfi systems for the first time,\u201d Westberg said.<\/p>\n

Those comments follow months of public positioning by Input Output Global\u2019s partner-chain Midnight<\/a>, a zero-knowledge (\u201crational privacy\u201d) network designed to let developers program selective disclosure and meet regulatory obligations while shielding counterparties and amounts. Midnight describes its approach as \u201cprogrammable data protection\u201d for enterprise-grade applications, with smart contracts written in a TypeScript-based language called Compact.<\/p>\n

What Hoskinson hailed and what Westberg described are two closely related tracks. On Cardano\u2019s base layer, Moneta Digital LLC issues USDM as a fiat-backed, regulated stablecoin. Moneta identifies itself as a US Money Services Business regulated at the federal level by FinCEN and relevant state authorities, and says reserves are held in bank deposits and money market funds managed by Fidelity and Western Asset Management.<\/p>\n

Moneta also opened retail minting with a $1,000 minimum, a stated $0 minting fee, and availability in 19 US states, reflecting the incremental nature of state licensing. As of press time, DeFiLlama shows roughly $12 million USDM in circulation on Cardano.<\/p>\n

In parallel, a privacy-preserving instrument is being built for Midnight. An X account branded \u201cShieldUSD\u201d describes itself as a \u201cfiat-backed privacy stablecoin on @MidnightNtwrk \u2026 issued by Moneta Digital LLC @USDMOfficial [and] built by @W3iSoftware,\u201d the development studio where Westberg serves as CTO. While branding and final product details remain in flux, the direction is clear: a fiat-backed dollar with granular permissions that lives natively on a privacy chain and interoperates with public ledgers.<\/p>\n

The core design debate\u2014sparked by Westberg\u2019s thread and community replies\u2014turns on whether such complexity is overkill relative to today\u2019s public stablecoins or the prerequisite for real-world finance to migrate on-chain. One respondent argued that USDC would be a \u201cbetter fit\u201d and that use cases for privacy coins<\/a> without \u201cgovernment level integrations\u201d are limited. Westberg countered bluntly: \u201cUsdc is not capable of any of the above requirements. Everything it does is public.\u201d He pointed to use cases beyond enterprise payroll\u2014such as paying a public utility where the payer\u2019s identity remains private while the public dataset is anonymized, or compliant remittances that disclose to a verifier only that the receiver is not in a sanctioned country.<\/p>\n

Crucially, the privacy layer appears scoped to Midnight. Westberg and subsequent coverage have noted that once assets move off Midnight to public chains, users \u201close the privacy,\u201d even if the instrument remains interoperable with other stablecoins for liquidity or settlement. That trade-off\u2014private by default where needed, public when bridged\u2014tracks with Midnight\u2019s own \u201cselective disclosure\u201d model and may reassure regulators that investigatory access can be granted \u201cwith a court order,\u201d as Westberg\u2019s payroll example emphasized.<\/p>\n

Hoskinson\u2019s choice of Buenos Aires as a backdrop is not incidental. Argentina has been a recurring stage<\/a> for Cardano\u2019s governance and adoption rhetoric, and for Hoskinson\u2019s advocacy of \u201cprivate money\u201d that mimics the transactional privacy of cash while remaining auditable under law. The Buenos Aires workshop, framed by him as a milestone on the path to a \u201cfirst Private Stablecoin,\u201d underscores a push to marry compliance and confidentiality in a jurisdiction where inflation and dollarization have made stablecoins part of everyday economic life.<\/p>\n

For Moneta and Cardano, the near-term milestones are prosaic but vital: expanding licensed jurisdictions, growing USDM\u2019s fiat reserves and on-chain supply, integrating with Cardano DeFi venues, and, if the Midnight instrument launches as envisioned, proving that programmable privacy can slot into familiar workflows\u2014payroll, bill payment, remittances\u2014without recreating shadow banking on a blockchain. The longer-term test is market acceptance. USDM\u2019s circulating supply\u2014still modest relative to incumbents\u2014will need to scale, and the privacy variant will need to demonstrate that role-based visibility and regulator-friendly access controls can survive contact with real compliance departments.<\/p>\n

For now, the public signal from Cardano\u2019s founder is unequivocal. \u201cMoneta\u2019s USDM is becoming the most advanced stablecoin ever built,\u201d he wrote. The rest of the ecosystem\u2014developers, enterprises, regulators, and users\u2014will determine whether the architecture emerging on Midnight and Cardano can earn that superlative in production rather than in principle.<\/p>\n

At press time, Cardano (ADA) traded at $0.72.<\/p>\n

\"Cardano<\/div>\n","protected":false},"excerpt":{"rendered":"

Cardano founder Charles Hoskinson has intensified the ecosystem\u2019s push into regulated, privacy-preserving digital dollars, declaring on July 31 that \u201cMoneta\u2019s USDM is becoming the most advanced stablecoin ever built.\u201d The remark, posted on X, came in the wake of a multi-day workshop in Buenos Aires that he said was \u201cmaking progress on the first Private […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-39985","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/39985","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=39985"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/39985\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=39985"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=39985"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=39985"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}