OTC Minting and Burning of USDM Now Available at NBX

28 Mar 2025 15:22 CET

Oslo, 28 March 2025 – Norwegian Block Exchange AS (NBX), a leading crypto
service provider in the Nordics, announces that the company now offers OTC
minting and burning of the USDM stablecoin for its clients. This marks an
important step in the planned European rollout of USDM, developed in partnership
with Moneta.

USDM is a US dollar-denominated stablecoin issued as a Cardano Native Token
(CNT). The token is fully backed by USD reserves, with reserve values
continuously verified by the decentralized oracle Charli3. All minting and
burning transactions are executed on the Cardano blockchain and are publicly
verifiable.

The launch of the OTC service marks the first phase of USDM deployment at NBX.
Direct minting and burning through the NBX trading platform is expected to go
live during Q2 2025.

USDM leverages Cardano's native token technology, offering low transaction
costs, high energy efficiency, and near-infinite scalability. As a native token
– not reliant on smart contracts – USDM also benefits from enhanced security.

NBX, together with Moneta and other partners, is also evaluating the launch of a
euro-denominated stablecoin (EURM) based on the same technological platform.

More information and the USDM whitepaper are available at:
https://nbx.com/en/usdm
For details about the OTC service: https://nbx.com/no/otc


Media contact:
Stig Kjos-Mathisen
CEO, NBX
Email: stig.aleksander.kjos-mathisen@nbx.com

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