Base Chain's Rising Stablecoin Star: What Is ANZ?

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Stablecoins continue to dominate the crypto narrative, drawing attention from major players and retail investors alike. While Binance backs Solana-based Perena and Trump-linked WorldLiberty invests in ENA, Base chain stablecoins have largely flown under the radar—until now. Enter ANZ, the native token of Anzen Finance and its USDz stablecoin, which surged 4x from its post-launch lows after an initial dip. Is this just another flash-in-the-pan meme, or a hidden alpha gem in the making?

The FJO Launchpad Effect: Where Hype Begins

In mid-November, as broader market sentiment warmed, capital began rotating into high-conviction narratives. One platform stood out: Fjord Launchpad (FJO). Known for its selective project listings and strong community backing, FJO created a ripple effect across early-stage investments. Projects tied to trending sectors like AI agents saw explosive returns—some as high as 33x—with allocations often sold out within minutes.

Even prominent figures reportedly secured entire batches during public sales. This growing confidence spilled over into FJO’s ecosystem token, which doubled from $0.50 to $1.00 amid staking incentives and anticipated airdrops.

Then came December 2—a pivotal date for Base chain enthusiasts.

Fjord launched Anzen Finance’s USDz, a new RWA-backed stablecoin, exclusively on its platform. Demand was immediate. The sale concluded rapidly, signaling strong community interest. But what followed was unexpected: ANZ crashed nearly 50% post-listing, dropping from $0.01 to $0.005. Panic set in. Was this another rug pull?

Not quite.

👉 Discover how early-stage crypto projects turn volatility into opportunity.

Anzen Finance: Building on Real-World Assets

Anzen Finance isn’t just another algorithmic stablecoin experiment. It operates in the real-world asset (RWA) sector—a rapidly growing segment where blockchain meets traditional finance. USDz, its flagship stablecoin, is backed by income-generating credit instruments and currently runs across four blockchains, with plans to expand to Movement, Berachain, Plume, Mantra, Monad, and Initia by 2025.

Holders of USDz can stake their tokens to receive sUSDz, earning a compelling 14.8% annual yield—a figure powered by underlying U.S. Treasury returns and private credit portfolios. This model mirrors that of other yield-focused RWA protocols like Usual but differentiates itself through strategic partnerships and cross-chain scalability.

Understanding the ANZ Tokenomics

ANZ serves as the governance and utility token for the Anzen ecosystem. Built on a ve (vote-escrow) model, it enables long-term alignment between stakeholders and protocol growth. Key uses include:

The public sale occurred on December 2 via FJOLaunchpad at a fixed price of $0.006 per ANZ. With a total supply capped at 10 billion tokens, allocation breakdown is as follows:

Currently, only about 11.6% of the total supply is in circulation, suggesting limited sell pressure and potential for gradual price appreciation if demand increases.

Backed by Top-Tier Investors and Proven Credit Experience

Anzen Finance isn’t flying solo. In a recent development reported by The Block, the project secured $4 million in seed funding to accelerate development of its RWA-backed stablecoin infrastructure.

Investors include some of the most respected names in Web3 and fintech:

This level of institutional support underscores confidence in Anzen’s long-term viability.

The team behind Anzen hails from Taiwan and brings over a decade of combined experience in credit underwriting and syndicated lending. Since 2018, they’ve been exploring ways to tokenize real-world debt instruments—long before RWA became a buzzword.

Their primary custodial and underwriting partner? Percent, a well-established platform with over $1.6 billion in transaction volume and a historical APY of 16%, all while maintaining a remarkably low 2% default rate over seven years.

Strategic Partnerships and Community Momentum

Beyond fundamentals, Anzen has demonstrated savvy marketing and community engagement.

The project has cultivated relationships with major NFT communities such as Doodles and Pudgy Penguins—iconic brands known for strong holder loyalty and cultural influence in Web3. On December 16, Anzen even updated its official social media profile picture to feature a Pudgy Penguin, signaling deeper alignment with blue-chip NFT ecosystems.

This isn't random branding—it reflects a deliberate strategy to embed within high-engagement communities where trust and virality matter.

Moreover, on-chain analytics reveal consistent behavior indicative of accumulation:

Since hitting its lowest point post-launch, ANZ has rallied over 4x, outperforming many peers in the current market cycle.

Market Position: Can ANZ Challenge USDC on Base?

As of early 2025, the total value locked (TVL) in the stablecoin sector has grown from $130 billion to $203 billion, fueled by macro adoption trends and increasing regulatory clarity—especially under shifting U.S. political leadership.

On Base chain specifically, USDC remains dominant, with over $3.3 billion in TVL. However, competition is emerging.

USDz has quietly overtaken DOLA to become the second-largest stablecoin on Base, now boasting $90 million in TVL. DOLA, meanwhile, has suffered multiple de-pegging events exceeding 2%, raising concerns about stability.

Despite these gains, both USDz and ANZ remain relatively small:

This low base presents opportunity—but also risk. Early movers may benefit from asymmetric upside, but volatility should be expected.

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Frequently Asked Questions (FAQ)

What is ANZ?

ANZ is the governance token of Anzen Finance, an RWA-focused protocol issuing the USDz stablecoin across multiple blockchains, including Base. It operates on a ve-model for staking, voting, and yield distribution.

How does USDz maintain its peg?

USDz is backed by real-world credit assets managed through trusted partners like Percent, combined with over-collateralization mechanisms and active market-making strategies to ensure stability.

Where can I buy ANZ?

ANZ is available on decentralized exchanges (DEXs) integrated with Base chain and select multi-chain platforms. Always verify contract addresses and use trusted wallets.

What is the current APY for staking USDz?

As of early 2025, staking USDz to receive sUSDz offers an annual percentage yield (APY) of approximately 14.8%, sourced from underlying treasury and private credit returns.

Is ANZ a good investment?

While ANZ shows strong fundamentals—top-tier backing, experienced team, growing TVL—it remains a high-risk, early-stage asset due to low liquidity and market cap. Conduct thorough research before investing.

Does Anzen Finance have future chain expansions planned?

Yes. Anzen plans to deploy USDz on emerging high-performance chains including Movement, Berachain, Plume, Mantra, Monad, and Initia by 2025, enhancing cross-chain utility.

The stablecoin landscape is evolving fast—and Anzen Finance may be positioning itself as a dark horse in the RWA race. With solid institutional backing, real yield mechanics, and growing traction on Base chain, ANZ could represent one of the more compelling opportunities in the current cycle.

👉 Stay ahead of the next wave of RWA innovation—see what’s trending now.