FAQ – Frequently asked questions and answers

・What does USDA stand for?

It stands for United States dollar Ascension.
Ascension is an auspicious word, meaning to rise, to ascend to heaven.
Published on 13 May 2021, Ascension Day is a public holiday in many Christian countries.

・What is the legal status of USDA?

USDA is an asset denominated in a currency that can be purchased and used at any time at a rate of 1 USDA = 1 US dollar and is a home-grown advance payment instrument under the Funds Settlement Act.
It is not a crypto asset.

・Is USDA a virtual currency (crypto asset)?

USDA is not a virtual currency (crypto asset).
This is because currency-denominated assets do not qualify as crypto assets under Japanese law.

・Can USDA be refunded directly into Japanese Yen?

USDA does not offer refunds.
We will be releasing more USDA-enabled services from ourselves and our partners in the future.

・Can I exchange USDA for IOST?

It is not possible for us to convert USDA directly into IOST.
Under the law of prepaid means of payment, it is a form of payment that we are not allowed to make.
However, the various ecosystems are currently being considered and adjusted.

・Where can I see the amount of USDA I have purchased on the purchase page?

The rate displayed on the purchase page is updated approximately every two minutes.
Depending on the timing of the transaction on the IOST blockchain, the purchase may be processed at a different rate than the rate at the moment you press the “Buy” button.
To find out how much you have actually purchased, please check the “Tx ID” value displayed after your purchase on IOSTABC.

・We want to work with the USDA.

Currently the USDA wants to promote a user ecosystem in the form of a DAO.
If you are interested, please contact us via chat.