About Moneta
We're building the stablecoin infrastructure that Cardano deserves: regulated, transparent, and truly native to the chain.
Our Story
Moneta began as Mehen Finance LLC in 2022, a grassroots initiative born inside the Cardano community. Stake pool operators, NFT creators, and blockchain engineers came together with one shared conviction: Cardano deserved a stablecoin that was native to the chain, not bridged from somewhere else.
Under the vision of Matt Plomin, the project became the first fiat-backed, US-regulated stablecoin on Cardano. After Matt's passing in November 2024, the team, now operating as Moneta Digital LLC, committed to carrying his vision forward.
Today, with MiCA compliance in Europe and FinCEN registration in the US, USDM is the only dual-regulated, Cardano-native stablecoin in the world.
Milestones
Founded as Mehen Finance
Born from the Cardano community. Built by SPOs, NFT creators, and blockchain engineers who believed Cardano deserved a native, regulated stablecoin.
USDM Launches on Mainnet
USDM goes live on Cardano mainnet as the first fiat-backed, US-regulated stablecoin native to the Cardano blockchain.
MiCA Compliance via NBX
Moneta achieves MiCA compliance in Europe through its partnership with NBX (Norwegian Block Exchange), opening USDM to the entire EU market.
In Memoriam: Matt Plomin
The USDM community mourns the passing of Matt Plomin, founding vision holder and champion of community-driven finance on Cardano.
What We Stand For
Four principles that guide every decision at Moneta.
Transparency
Every USDM is backed 1:1 by USD reserves held with tier-one US institutions. Reserve composition is published in the transparency report.
Cardano-Native
USDM was built for Cardano, not ported to it. No bridges, no wrappers. Cardano's security and efficiency are USDM's foundation.
Regulated
FinCEN-registered in the US, MiCA-compliant in Europe. Regulation is not a constraint. It's our competitive advantage.
Community-Built
Moneta started as Mehen Finance, born from the Cardano community. Our decisions are made in service of the ecosystem we came from.
Matthew Leo Plomin
August 11, 1980 - November 14, 2024
Matt was the founding visionary behind USDM. He believed deeply that Cardano deserved a regulated, community-driven stablecoin, and his conviction turned that belief into reality. His warmth, integrity, and relentless commitment to the ecosystem touched thousands of lives.
“Everything we build is in service of his vision.”
Join the movement
USDM is built by and for the Cardano community. Whether you're a user, developer, or institution, there's a place for you.