Cardano’s Hoskinson Lauds New Stablecoin, Touted as “More Advanced” Than USDC

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Cardanos Hoskinson Lauds New Stablecoin, Touted as “More Advanced” Than USDC

Cardano founder Charles Hoskinson lauded USDM, a new entrant in the stablecoin market. Reports suggest it may be more advanced than USD Coin (USDC).

The stablecoin market remains one of the most competitive sectors in the US, with political players and traditional banks competing for a share of the space.

Cardano Founder Hails New Stablecoin More Advanced Than USDC

Hoskinson praised Moneta‘s USDM stablecoin, advertising it as the most advanced stablecoin ever built. His statement highlighted the project’s ambitions to eclipse legacy finance with a blockchain-native alternative.

Moneta's USDM is becoming the most advanced stablecoin ever built https://t.co/r32xbbfCbE

— Charles Hoskinson (@IOHK_Charles) July 31, 2025

. Other community members echoed his statement, further cementing USDMs potential as a major innovation.

“While USDM is solid, what‘s cooking in Buenos Aires is next level. Privacy-enabled stablecoins with granular permission controls？ That’s not just disrupting TradFi, thats replacing it entirely. The complexity jump from USDM to this is like going from checkers to 4D chess,” wrote X user T.

USDM, issued by Moneta, is being developed with a focus on privacy, permissioned visibility, and enterprise-grade functionality.

According to Andrew Westberg, W3is CTO, its architecture goes far beyond what traditional stablecoins like USDC can currently offer.

Westberg described real-world use cases such as complex payroll structures, where different team members require varying levels of transactional visibility based on role or legal authority.

The stablecoin is a small but important piece of the discussion in . That being said, the complexity is 10x to 20x that of USDM.

Imagine doing company payroll. Bob needs to see and control what he receives. Alice can see and control hers but can't see Bob's. Mary in accounting… https://t.co/vvXCZXqByU

— Andrew Westberg (@amw7) July 30, 2025

By contrast, Westberg says Circle‘s USDC stablecoin is incapable of any of the above requirements, with USDM’s edge bordering everything it does being public.

This delineation places USDM in a distinct category of next-generation stablecoins aimed at replicating and potentially replacing traditional financial (TradFi) workflows using blockchain rails.

USDC Leads in Scale, Adoption, and Institutional Trust

However, some users remain skeptical, citing concerns over a product that lacks government-level integrations.

“Love the ideas behind it, but this is why I can‘t shake the feeling USDC would’ve been a better fit and less reinventing the wheel so to speak. I also see very few uses for stable coins that lack government level integrations,” one user observed.

In the same way, when it comes to scale and adoption, USDC still holds a commanding lead. According to DeFiLlama data, USDC has a market cap of $63.68 billion.

Circles stablecoin is also issued across a broad range of networks, including Ethereum (60.24%), Solana (12.57%), Base (5.79%), and Hyperliquid (7.45%). It currently circulates over 63.7 billion tokens.

USDC Stablecoin Statistics. Source: DefiLlama

USDM, in contrast, remains in its infancy with a market cap of just $3.57 million and 3.58 million tokens in circulation.

Its deployment is currently concentrated on Ethereum (67.46%), Polygon (18.58%), and Arbitrum (7.96%). USDM also has a limited multichain presence compared to USDCs broad reach.

USDM Stablecoin Statistics. Source: DefiLlama

. The listing enhances Circles transparency, regulatory access, and credibility, which are critical factors for large institutions looking to integrate stablecoins.

This public status likely gives USDC a further advantage over experimental offerings like USDM, especially regarding compliance and onboarding within TradFi.

Still, USDMs focus on privacy and complex role-based access could carve a niche for enterprise applications and legally sensitive environments.

If it delivers on its ambitious design, it may not rival USDC in scale anytime soon, but it could set a new benchmark for what stablecoins are capable of.

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