Mehen is the Cardano blockchain’s premiere fiat-backed stablecoin. Mehen Finance will be an audited and licensed fiat-backed stablecoin issuer, minting the USDM token, a Cardano-native asset.
A directly-convertible-to-fiat token, USDM can serve as the backbone of the emerging Cardano deFi ecosystem. Since it is redeemable 1:1 for USD, the USDM token will be a reliable store of value on the Cardano blockchain. As a Cardano-native asset, it will be compatible with deFi protocols.