Gov Action

This treasury withdrawal funds **Expanding Stablecoin / Cardano Native Asset Support / Fiat Ramps** which will provide the following services: 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, Anzens aims 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. This Treasury Withdrawal is submitted by Intersect on behalf of the vendor. The following sections; Abstract, Motivation, Rationale and Vendor Profile have been sourced from the approved proposal submitted by the Vendor as part of the Intersect budget process. This treasury withdrawal funds one of 39 proposals to give effect to the approved budget info action for ₳275,269,340, administered by Intersect via gov_action1u9x73kwufaxa70lfy59g4ynwyrcsaxdcd0gxzzmh67s9fxq4j8hqqk2phgh. The information provided herein is intended to fulfill the spirit of the constitutional requirement for a treasury withdrawal info action by also providing the details of the proposed solution, alignment to the budget, and amount to be withdrawn from the Cardano Treasury.

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.