Cardano network launches first stablecoin, AgeUSD, a new type of algorithmic stablecoin.
Cardano’s parent company Input-Output Global partnered with blockchain-solutions provider Emurgo to launch the Stablecoin AgeUSD and the Ergo Foundation.
Ergo foundation is the main developer of the stabelcoin.
The surging in Crypto adoption increased the demand for stablecoins.
Its native token, ADA, is now the seventh- largest cryptocurrency by market capitalization