The Cardano blockchain has emerged as a leading smart contract platform, offering scalability, security, and sustainability. However, despite its technological advantages, Cardano faces critical challenges in mainstream adoption, particularly in the areas of stablecoin liquidity, wallet support for native assets, exchange availability, and fiat on/off-ramps. These limitations hinder Cardano’s ability to compete with other major blockchains in real-world financial applications. This proposal seeks funding to address these challenges by:

1. Expanding wallet and custodian support for Cardano native assets (including USDA, a Cardano-native stablecoin).
2. Increasing the availability of Cardano stablecoins and native assets on exchanges and OTC desks.
3. Driving real-world utility for USDA in cross-border payments, remittances, and enterprise settlements.
4. Building cost-effective fiat on/off-ramps for ADA and Cardano native assets in frontier markets. By addressing these challenges, we aim to boost liquidity, accessibility, and adoption of Cardano’s DeFi and real-world use cases, bridging traditional finance with our open source blockchain-based payments

Problem Statements & Proposed Solutions

1. Custody & Wallet Gaps: Cardano native assets lack support from institutional custodians like BitGo and Fireblocks, limiting exchange listings and adoption. Solution: Partner with custodians to integrate USDA and other assets, enable institutional-grade custody, and expand wallet compatibility. Impact: Boosted liquidity, institutional access, and DeFi growth.

2. Exchange & OTC Access: Cardano assets remain underrepresented on CEXs and OTC desks, restricting liquidity and accessibility. Solution: Secure Exchange USDA listings (spot and derivatives), form OTC partnerships, and integrate with Neo Banks. Impact: Better price discovery, increased trading pairs, enhanced fiat liquidity, and wider market participation.

3. Real-World Utility: Stablecoin use is mostly limited to crypto trading, despite Cardano’s efficient fee model. Solution: Enable B2B payments, remittances, payroll, and bill payments using USDA. Impact: Broader adoption beyond DeFi and stronger traditional finance integration.

4. Fiat On/Off-Ramps: Users face high-cost (Fiat to ADA), limited access to convert ADA/native assets into fiat. Solution: Deploy low-cost onramps via bank transfers/mobile wallets; expand offramps (piloted via Yoroi). Impact: Reduced friction, deeper liquidity, and increased financial inclusion.

1. Lack of Wallet & Custodian Support for Cardano Native Assets: Major institutional custodians (e.g BitGo, Fireblocks) do not natively support Cardano native assets, including USDA. This creates a bottleneck for exchanges, OTC desks and institutions who rely on these custodians for secure asset storage. Without custodian integration: -Exchanges cannot list Cardano-native assets, limiting liquidity and trading opportunities -Institutional investors face custody risks, reducing their willingness to engage with Cardano Ecosystem -Cardano projects struggle to attract capital, as investors prefer assets with established custody solutions

Impact:The absence of institutional-grade custody solutions stifles liquidity, restricts market access and slows Cardano’s growth.

2. Limited Availability of Cardano Native Assets on Exchanges & OTC Desks: Despite Cardano’s $700M+ DeFi ecosystem, its native assets—including stablecoins—are severely underrepresented on centralized exchanges (CEXs) and OTC desks. -Few trading pairs for Cardano assets (eg. ADA/USDA, USDA/USDT) -No derivatives markets (futures, options) for Cardano stablecoins, limiting trading volumes -OTC desks avoid Cardano-native assets due to limited institutional LPs Impact: Without deep exchange liquidity, traders and institutions cannot efficiently enter or exit positions

3. Lack of Real-World Stablecoin Utility Beyond Crypto Trading: Stablecoins mainly serve crypto trading, with USDC gaining enterprise use—while Cardano’s stablecoins remain underutilized across real-world sectors: -Cross-border B2B payments ($31.6 trillion market) -Remittances ($850 billion market and where low fees matter) -Payroll & merchant settlements Cardano’s low fee structure makes it ideal for payments, but the lack of integration with traditional finance, prevents adoption.

Impact: Without real-world use cases, Cardano’s stablecoins are limited to DeFi

4. Restricted Fiat On/Off-Ramp, Especially in Frontier Markets: Users in emerging markets (Africa, LATAM, Asia) struggle to convert ADA and Cardano-native assets into local fiat due to: -High fees (5-7% for card-based ramps vs. ~1% for local bank transfers -Limited payout network & banking access Impact: Limited DeFi participation and slow retail adoption due to costly on/off ramps. Ethereum & Ripple are expanding stablecoin adoption. Without custody solutions, Cardano misses institutional demand. Stablecoins will reshape global finance, and frontier markets need blockchain.

a. Wallet Support for Cardano Native Assets: USDA is pursuing strategic partnerships with firms like Zoida Markets, and in talks with BitGo, Zodia Custody, CipherBC, etc. Our goal is to enhance Cardano Native Assets by improving reach, reliability, and pricing through collaboration with key custodians, and wallet infrastructure providers—ultimately boosting distribution, liquidity and user adoption. b. Availability of USDA / Native Assets on Exchanges, OTC Desks and NEO Banks: Anzens is focused on bringing USDA to CEXs, NEO banks, OTC desks, and other key distributors to expand its reach. By enabling USDA pairs for Cardano tokens on exchanges, we aim to boost usability, drive adoption through spot listings, and support broader participation via derivatives trading. Enabling USDA with NEO banks would offer USDA <> Fiat pairs in exotic currencies

c. Drive USDA adoption to unlock real-world utility: Anzens would be initiating cross integration with real estate developers, remittance companies and other payment companies to bring USDA as part of their backend settlement network, helping Cardano gain adoption beyond the crypto space.

d. Access to Fiat on and off-ramps: Encryptus has piloted ADA-to-fiat off-ramps for Yoroi Wallet users, enabling users to convert ADA to local currencies across 70+ countries—including India, China, Philippines, Nigeria etc—via bank transfers, without relying on SWIFT or card networks. Encryptus aims to build stronger on-ramps with local payment rails.

The funds from this proposal would be utilized to:

1. Develop Onramp Capabilities: Current ADA onramps via cards are costly and don’t support Cardano Native Assets. Encryptus aims to solve this by offering low-cost onramps through local bank transfers and mobile wallets—cutting costs by up to 60%. This will ease access to ADA and native assets. Ideal for Cardano DeFi and wider eco-system. Phase 1 of the services would include countries in LATAM, Africa and parts of Asia with a Phase 2 expansion to developed economies.
2. Cardano’s deterministic fee structure makes it well-suited for payment use cases. However, integration with traditional payment systems has been a challenge. Encryptus is addressing this by developing alternative payment solutions—such as global bill payments, school fees, and Buy Now Pay Later (BNPL) products—on the Cardano blockchain. These initiatives showcase Cardano’s practical value to Web2 users, helping to broaden its adoption and real-world relevance.

A. Stablecoin

TM: Build out Stablecoin issuance platform on Cardano Community: Ability to US individuals and corporations to mint and burn USDA with Fiat

TM: USDA Stablecoin Listed on Minswap with 10 million in seed liquidity Community: Added liquidity and stablecoin pairs

TM:Direct mint / burn capabilities for USDA for 80+ countries in Fiat Community: Added liquidity and stablecoin pairs

TM:Deployment of USDA on Crypto Exchanges Community: Access to Cardano native assets traded against USDA on Spot and Derivatives Exchange. Plus This will increase traction for builders to build on Cardano

TM:Partnership with OTC Desks and NEO Banks: Community: Access to USDA in additional exotic currencies like INR (India), EUR (Europe), TRY (Turkey), ZAR (South Africa) and many others

TM: Onboarding of Non-crypto institutions as clients with Anzens to utilise USDA Community: Cardano as an ecosystem would benefit with use case in sectors like remittance and telecom for cross border settlements. Cardano adoption and visibility would also be helpful for the community.

B. Payments TM: On-ramps of USDA , ADA and other Cardano native assets with local payment methods (non-cards) Community: They get benefitted from lower transaction costs and fair price on Cardano native assets in the frontier markets.

TM: Use cases for Cardano Defi project. Community: More developers can build technology around Defi because on and off-ramps would give access to a larger set of population to get in and get out of the ecosystem by consuming our tech and infrastructure.

TM:Off-ramps for USDA by utilising the Encryptus tech would assist the Cardano community with real time settlement. Community: Benefits from near instant to local bank and alternate payment settlements, Off-ramps in the form of payment methods like Bill Payments, e-sims would bring a better and more reliable use case to the Cardano community.

*TM: Tangible Milestone

Overall Objectives of combining USDA and Payments : Our proposal is focused on driving greater transaction volume on the Cardano network and deliver use case for RWAs— a move we believe will directly contribute to strengthening the treasury over time. In appreciation for the support, we can consider committing to reinvesting net earnings from our stablecoin business (after operating costs) back into Cardano (e.g., new liquidity, incentives for Cardano projects to build on USDA).

Engineering Employees $300,000 Business Employees $120,000 Finance and Operations Employees $135,000 Marketing / BD $200,000 Technical Infrastructure $400,000 Legal / Licenses $345,000 Exchange Listing and Liquidity $400,000 Financial Expenses (Fiat Liquidity) $100,000 TOTAL $2,000,000

Amounts in ADA Engineering Employees 600,000 Business Employees 240,000 Finance and Operations Employees 270,000 Marketing / BD 400,000 Technical Infrastructure 800,000 Legal / Licenses 690,000 Exchange Listing and Liquidity 800,000 Financial Expenses (Fiat Liquidity) 200,000 TOTAL ADA 4,000,000

Current Team Size: 15 Expand Team Size to 25-30 people
Additional Team Members: 14 to 17 ( 5 engineers + 3 Business Development + 2 Compliance + 2 Operations + 1 Marketing + 2 Finance + Additional Support as required in Tech and Ops)

Duration Estimates:

TM: Build out Stablecoin issuance platform on Cardano - Completed TM: USDA Stablecoin Listed on Minswap with 10 million in seed liquidity - 1 month TM:Direct mint / burn capabilities for USDA for 80+ countries - 3 to 4 Months TM:Deployment of USDA on Exchanges - 3 months TM:Partnership with OTC Desks and NEO Banks - 6 to 12 Months (Initiated) TM: Onboarding of Non-crypto institutions as clients with Anzens to utilise USDA - within 12 months

Payments: TM: On-ramps of USDA , ADA and other Cardano native assets with local payment methods (non-cards) - 8 to 10 months TM: Use cases for Cardano Defi project. - 4 months TM:Off-ramps for USDA by utilising the Encryputus tech would assist the Cardano community with real time settlement. - 4 months (Pilot running on Yori already)

Our team brings together seasoned professionals with deep expertise in payments, stablecoins, and cryptocurrency infrastructure, backed by 50 years of combined experience at leading firms such as Paxos, Huobi (HTX), OKX, Western Union, Citi Bank, and BitPesa (AZA Finance). We have played pivotal roles in advancing fintech innovation, blockchain payments, and digital asset ecosystems, equipping us with unmatched insights into global payment networks, compliance, and scalable financial solutions.

Multidisciplinary Leadership Our team includes former CEOs, legal counsels, product leads, and senior strategists with expertise across technology, compliance, and business development. Key strengths include:

• Crypto & Stablecoins: Hands-on experience in liquidity management, institutional adoption, and blockchain-based payments.
• Building global remittance networks that facilitate seamless cross-border transactions in the frontier and emerging markets
• Technology & Product: Proven track record in building secure, compliant financial infrastructure for payments and digital assets.
• Scaling crypto exchanges and developing liquidity solutions to support institutional and retail trading.
• Regulatory & Compliance: Direct experience navigating global financial regulations for stablecoins and cross-border transactions.
• Business Growth: Successfully expanded operations and partnerships across North America, Europe, Africa, and Southeast Asia.

Encryptus and Anzens remain committed to investing capital and resources to support the growth of USDA and the development of robust on/off-ramp infrastructure for the Cardano ecosystem. As each phase of deployment progresses, the Cardano community will be encouraged to engage with the services and provide feedback, enabling continuous improvement and greater user adoption

1. https://x.com/AnzensOfficial
2. https://x.com/AnzensOfficial/status/1902359886307930367
3. https://x.com/AnzensOfficial/status/1881356956436484556
4. Reddit: a. https://www.reddit.com/r/cardano/comments/1i5yxv0/anzens_usda_is_officially_on_chain_fully_reserved b. https://www.reddit.com/r/cardano/search/?q=anzens&cId=8b7c4bd4-9d30-47d9-8ffa-c48 c. https://www.reddit.com/r/cardano/comments/1hitao4/check_out_anzens_onboarding_platform_real_demo

Our one key dependency is securing the capital to build out our on-ramps and secure additional regulatory approvals.