Minting USDM™ converts US dollars into USD stablecoin tokens on the Cardano blockchain. The process is simple: you deposit USD, Moneta deposits it into reserve, and USDM appears in your Cardano wallet 1:1.
This guide takes you from zero to your first USDM.
What You'll Need
Before you start, make sure you have:
- ✅ A Cardano wallet (Eternl, Lace, or Vespr). See our wallet setup guide
- ✅ A US bank account capable of sending wire transfers
- ✅ Government-issued photo ID (for KYC verification)
- ✅ A minimum of $1,000 USD to mint (this is the retail minimum)
Overview: How Minting Works
You wire USD → Moneta holds it in reserve → USDM minted 1:1 → Sent to your wallet
The process has two phases:
- Verification: one-time identity check (usually 5-10 minutes)
- Minting: wire USD, receive USDM (varies by bank)
Once verified, future mints are much faster.
Step 1: Create Your Account
- Go to moneta.global/getting-started
- Click Get Started or Mint USDM
- Enter your email address and create a password
- Verify your email (check spam if you don't see it)
Step 2: Complete KYC Verification
USDM is a regulated product. As a FinCEN-registered Money Services Business, Moneta is required to verify your identity before you can mint.
The process takes about 5 minutes:
- Click Verify Identity in your dashboard
- Enter your full legal name, date of birth, and residential address
- Upload a photo of your government-issued ID:
- Driver's license (front and back)
- Passport (photo page)
- Take a selfie when prompted for liveness verification
- Submit and wait for approval
Typical verification time: Under 10 minutes for most users. Complex cases may take up to 24 hours.
You'll receive an email when verification is complete.
Step 3: Add Your Cardano Wallet
- In your Moneta dashboard, go to Wallets
- Click Add Cardano Wallet
- Copy your Cardano wallet address from your wallet app (starts with
addr1...) - Paste it into the field and confirm
Only your verified wallet addresses can receive USDM. This is a compliance requirement.
Step 4: Wire USD to Mint
- Click Mint USDM in your dashboard
- Enter the amount you want to mint (minimum $1,000)
- You'll see the exact number of USDM you'll receive (always 1:1)
- Click Proceed to get minting instructions
Moneta will display wire transfer details:
- Bank name and routing number
- Account number
- Reference code (important: include this with your wire)
- Amount to send
Send the wire from your bank account. Include the reference code in the wire memo so Moneta can match your payment to your account.
Step 5: Receive USDM
Once Moneta confirms your wire:
- The USD is deposited into reserve
- USDM is minted and sent to your verified wallet address
- You'll receive an email confirmation
Timing: This depends on your bank's wire processing time.
- Same-day wires within the US: typically 2-4 hours
- Standard bank wires: 1-2 business days
Your USDM will appear in your Cardano wallet automatically once the transaction confirms on-chain (usually within 30 seconds of minting).
Step 6: Verify in Your Wallet
Open your wallet app and look for USDM in your assets list. You should see:
USDM [your amount]
Congratulations. You're now holding your first USDM.
What to Do with Your USDM
Now that you have USDM, here are the most popular things people do with it:
Earn yield: Deposit into Liqwid Finance to earn interest from borrowers. Check live rates on liqwid.finance.
Provide liquidity: Add USDM to a trading pair on Minswap or SundaeSwap to earn swap fees.
Use for payments: Send USDM to anyone with a Cardano wallet, anywhere in the world, for less than a cent.
Hold as stable savings: Keep USDM as a stable store of value in your crypto portfolio.
Redeeming USDM Back to USD
Redemption is the reverse process:
- Go to your Moneta dashboard and click Redeem
- Enter the amount of USDM to redeem
- Add your verified bank account details
- Confirm the transaction in your wallet (this burns the USDM)
- Receive USD via bank transfer within 1-2 business days
There are no penalties or lockup periods. Redeem whenever you need to.
Frequently Asked Questions
What's the minimum mint amount? $1,000 USD for retail users. Institutional clients can arrange custom limits.
Are there fees? Moneta charges a small minting/redemption fee. Current fee details are shown during the mint flow.
Is my wallet address permanent? Yes. Once verified, that address is linked to your account. You can add multiple addresses.
What if my KYC is rejected? You'll receive an email with the reason and instructions for resubmission. Common issues: blurry ID photo, name mismatch.
Is this available outside the US? USDM is available in the EU via NBX. Some regions may have restrictions, so check the eligibility information during signup.