Mu Digital AZND

AZND turns senior exposure to Asia's credit markets into a dollar-pegged token. Issued by Mu Digital, a startup that raised a small pre-seed round to bring Asian real-world credit onchain, it is minted by swapping in stablecoins like USDC or AUSD and sits as the senior tranche of a two-token structure, with a junior instrument called muBOND overcollateralizing it at roughly 118 percent of supply. Staking AZND accrues a yield reported near 7 percent, paid weekly. Direct minting and redemption are limited to approved counterparties who clear the issuer's KYC and accept a settlement queue of about a week; anyone else buys and sells on decentralized exchanges. It launched in late 2025 on Monad. AZND is an early attempt to package institutional Asian credit into a stable onchain form, and its safety ultimately rests on that junior buffer holding through stress.