---
title: "Moneta (USDM) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/usdm-moneta/"
description: "Build-time stablecoin profile for Moneta (USDM). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-05-15"
---



# Moneta (USDM)

**Peg:** US Dollar

**Backing:** Real-World Asset Backed

**Governance:** Centralized (CeFi)

**Status:** active

## Overview

Moneta's USDM has logged 1,656 depeg events despite pristine MMF reserves and MiCA licensing, because zero observable DEX liquidity on Cardano means no arbitrageurs enforce the peg. Moneta's USDM has logged 1,656 depeg events with deviations as extreme as 18% below and 31% above its dollar peg, earning an F safety grade at 32 despite holding reserves that any regulator would applaud — 60% {{term:money-market-fund}}money market funds{{/term}} from Fidelity and Amundi, 40% USD bank deposits, with a Norwegian MiCA EMT license and Charli3 oracle {{term:attestation}}attestation{{/term}} before every mint. The problem is brutally simple: zero observable DEX liquidity on Cardano means there are no arbitrageurs to enforce the peg, so the price wanders wherever thin order books take it. The WATCH stress band at 18 and multi-day settlement window compound the exit risk for anyone holding meaningful size. USDM is the clearest case study in the dashboard for why pristine reserves are necessary but not sufficient — without on-chain liquidity, a stablecoin is just a well-backed IOU trading at whatever the market feels like.

## Collateral

USD bank deposits and money market funds managed by Fidelity and Western Asset Management (Moneta/USA issuance) and Sparebanken Norge / Amundi USD MM fund (NBX/EEA issuance), held in segregated reserve accounts

## Peg Mechanism

Direct 1:1 redemption through Moneta (USA) or NBX (EEA); KYC required; Charli3 oracle verifies reserve backing on-chain before each mint on Cardano

## Jurisdiction

| Country | Regulator | License |
| --- | --- | --- |
| Norway | Finanstilsynet | MiCA E-Money Token (EMT) |

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| cardano | `c48cbb3d5e57ed56e276bc45f99ab39abe94e6cd7ac39fb402da47ad0014df105553444d` | 6 |

## Live Data

Real-time price, supply, peg score, liquidity, and flow data live at https://api.pharos.watch/api/stablecoin/usdm-moneta.