We’re excited to announce that the beta program for retail users is officially open! For the first time, individuals in qualifying U.S. states can mint and burn USDM, our fiat-backed stablecoin on the Cardano blockchain.
Until now, the minting and burning of USDM was limited to enterprise users. Now, we’re extending this functionality to select retail participants, and we want you to be a part of this exclusive beta test. If you meet the eligibility requirements and are eager to help us refine the retail experience, we invite you to apply today.
Why Participate?
This is a unique opportunity to engage directly with the USDM platform, where your feedback will play a critical role in shaping the future of Moneta. As a beta tester, you’ll have early access to our mint/burn system and contribute to its improvement by sharing your thoughts through surveys and other feedback channels.
Special Perks for Beta Testers
Beta testers will enjoy a special fee arrangement throughout the testing period, as a thank-you for helping us shape the product. It’s our way of showing appreciation for your time and insights.
How to Qualify
To ensure the security and compliance of our platform, we have a few requirements for those interested in becoming beta testers:
- Identity Verification: You must complete our KYC process, which includes providing your real name and a government-issued ID in compliance with U.S. regulations.
- Technical Resources: You’ll need a Cardano wallet with at least 15 ADA to link to your Moneta account, a traditional U.S. bank account that supports USD transactions, and a 2-factor authentication method.
- Location: To mint or burn USDM, you must be physically present in one of the following operational states: California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Kansas, Massachusetts, Missouri, Montana, New Hampshire, North Dakota, Pennsylvania, Tennessee, Utah, Virginia, Wisconsin, or Wyoming.
- Patience: Working with traditional finance (TradFi) systems means that transaction times follow a standard banking schedule. Depending on your bank, it may take up to two business days for your mint or burn order to be processed.
- USD Only: Initially, we’re only accepting U.S. dollars (USD) via wire for USDM transactions. While we plan to support additional fiat currencies and ADA in the future, these are not available just yet.
Your Role as a Beta Tester
By joining the beta program, you’re helping us build something revolutionary, and we take your feedback seriously. We encourage you to take detailed notes on your experience—especially when minting and burning USDM—and share any thoughts on how we can improve the system. Your input will directly influence future updates and help us optimize the user experience.
Thank you for considering this opportunity to be part of the next generation of stablecoin technology. Your insights will help us make USDM more secure, efficient, and user-friendly for everyone.