Anzens Inc. Partners With BitGo Trust to Provide Custodial Services for USDA Stablecoin on Cardano

Anzens Inc. has partnered with BitGo Trust, an industry leader in digital asset custody, to provide custodial services for USDA, a stablecoin native to the Cardano blockchain.

Anzens Inc. has announced a partnership with BitGo Trust, a leading digital asset custodian, to provide custodial services for USDA, a stablecoin native to the Cardano blockchain. This marks the first stablecoin to be launched on Cardano.

Highlights:

Anzens Inc., a technology company building on the Cardano blockchain, has partnered with BitGo Trust, an industry leader in digital asset custody, to provide custodial services for USDA, a stablecoin native to the Cardano blockchain.

USDA, which aims to be a fully reserved and secure stablecoin, is seen as a foundational component for decentralized applications (dApps) and protocols on Cardano. Anzens is responsible for minting and burning USDA on behalf of users.

Anzens aims to bridge traditional banking services with the rapidly evolving world of crypto finance. The USDA stablecoin is the first of its kind on Cardano, positioning it as a potential key player in the ecosystem's DeFi landscape.

According to a press release, the partnership with BitGo is crucial for Anzens' strategy. BitGo's involvement in the launch ensures a secure, streamlined, and compliant process for onboarding users.

As Shantnoo Saxena, CEO of Anzens Inc., explains, “Integrating with such a well-respected Qualified Custodian like BitGo provides us with a trusted partner to support USDA’s infrastructure, mitigating operational risks while minting and burning the stablecoin. This ensures that our users experience the highest level of protection as USDA enters the market.”

BitGo's reputation as a top-tier custodian, particularly for institutional clients, adds a layer of confidence to the USDA project. The firm's advanced custodial solutions and segregated accounts, which separate user funds from company holdings, provide an extra layer of security for Anzens users.

Frank Wang, Executive Director at BitGo, expressed his support for the collaboration, stating, “Anzens is building a vital piece of stablecoin infrastructure for the Cardano community, and we are pleased to support them in bringing USDA to market.”

For EMURGO, the technology provider behind Anzens' platform, this partnership is a validation of their technical capabilities. Vineeth Bhuvanagiri, Managing Director of EMURGO Fintech, said: “Working with BitGo proves that our tech can meet the rigorous demands of institutional custodians, and it reinforces our commitment to building tools that deliver real-world utility for the Cardano ecosystem.”

The USDA stablecoin is expected to launch later this year, offering a critical link between traditional financial systems and Cardano's growing blockchain ecosystem.

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