Even fully screened assets can pick up small amounts of tainted income along the way — purification means giving that specific portion back, not paying extra.

Based on Anzens USDA's riba, gharar and maysir screening — see how we calculate purification amounts.

Overseen by Imam Omar Siddiqi, Shariah scholar and Imam of JMIC, among others, with donations paid directly to Jamiya Masjid & Islamic Centre — UK registered charity no. 1089986. Sent wallet-to-wallet; CryptoUmmah never custodies your funds. Always verify the destination address before confirming in your wallet.

Mashbooh · Doubtful · Risky

Your exact purification amount, calculated from Anzens USDA's Shariah compliance score.

Your realized profit on USDA (USD) — profit only, not principal

Amount to return0.00 USDC

to Jamiya Masjid & Islamic Centre, a registered UK charity

Purification isn't Zakat and isn't tax-deductible — it's the return of income that wasn't rightfully yours.

Scholar-verified · UK registered charity

Key facts

Chain	Cardano
Last reviewed	19 Jul 2026

Written by ThanvirFounder, Ex Director S&P Global Energy

Reviewed by Imam Omar SiddiqiShariah Scholar

Islamic Finance Principles Assessment

Riba — Does Anzens USDA involve interest?

Anzens USDA itself charges no minting or redemption fees and pays no yield to holders, so the token's direct mechanics are free of an explicit riba structure. However, its reserve composition — cash plus "US Treasury equivalents" — introduces an interest-bearing element at the issuer level that Muslim investors should weigh carefully. On balance, the base token avoids direct riba exposure to holders, but the backing itself is not interest-free.

Assessment: Moderate Riba Score: 55.3/100

Our methodology examines 10 criteria to evaluate how well Anzens USDA avoids interest-based mechanisms.

Anzens generates revenue through off-ramp/on-ramp services and reserve management rather than protocol fees, since minting and burning USDA are free of charge. The reserves backing USDA are described as cash and "US Treasury equivalents" held with BitGo Trust as qualified custodian. Treasury equivalents are conventional interest-bearing government debt instruments, meaning the issuer's balance sheet — and by extension the peg's backing — includes riba-generating assets, even though this interest is not directly distributed to USDA holders.

The base USDA protocol offers no lending, borrowing, or native yield; it is strictly a mint-and-redeem instrument. However, a third-party Cardano protocol, Liqwid, has proposed a USDA lending market built on a fixed base rate and utilization-based interest curve with income splits between suppliers and reserve. This is external dApp activity, not a feature of USDA itself, and per the judgment principle such third-party interest-based markets do not by themselves render the token's own design impermissible — though they represent a real avenue for riba exposure investors should avoid engaging with directly.

Gharar — How much uncertainty does Anzens USDA involve?

Uncertainty around Anzens USDA is moderate: the issuing entities are named and credentialed, but code-level transparency is lacking. Governance is centralized and disclosed, which reduces ambiguity about who controls issuance, yet the absence of a public audit increases operational uncertainty. The overall picture is one of institutional legitimacy paired with technical opacity.

Assessment: Moderate Gharar (Material Uncertainty) Score: 60.7/100

Our methodology examines 15 criteria including team transparency, audit quality, and governance.

Anzens is not an anonymous project. Named executives include founder/CEO Shantnoo Saxena and later CEO Vineeth Bhuvanagiri, who previously worked at Paxos and EMURGO Fintech. The entity operates jointly with EMURGO, a founding Cardano commercial arm, and Encryptus, a VASP-licensed trading desk in Lithuania with UAE VARA licensing in progress. Reserves are held with BitGo Trust, a qualified custodian. This level of named, credentialed disclosure meaningfully reduces gharar compared to anonymous or pseudonymous projects common in the space.

No public smart contract audit for USDA/Anzens could be identified in available sources; adastack explicitly states that no such audit has been published and that developer documentation is not openly available. This is a genuine gharar concern that should be named plainly — an unaudited stablecoin carries elevated technical and custodial risk regardless of the credibility of its issuers. Terms around minting, redemption, and KYC are disclosed, but the lack of independent code review leaves smart contract risk largely unverified for outside observers.

Maysir — Does Anzens USDA involve gambling or speculation?

Anzens USDA is not designed as a speculative or gambling instrument; its stated purpose is remittances, merchant payments, and stable-value transfer. A November 2025 secondary-market depeg event, driven by thin DEX liquidity, introduced short-term volatility, but this reflects market-structure fragility rather than the token's design. Overall, the coin's own function does not encourage speculation.

Assessment: Moderate Maysir (High Risk) Score: 67.2/100

Our methodology examines 11 criteria to determine whether Anzens USDA is a gambling instrument or a genuine economic tool.

USDA demonstrates genuine real-world utility: it is used for cross-border remittances, merchant payments (including a documented live transaction in Nairobi), and e-wallet off-ramps across multiple emerging markets. This productive, payment-oriented use case distinguishes it from tokens whose primary function is price speculation or gambling-like mechanics. The KYC/KYB-gated minting and redemption process further anchors the token's design toward legitimate financial transfer rather than open speculative trading.

Against this genuine utility, market data shows modest scale — roughly $10.6M market cap and thin daily trading volume — meaning secondary-market activity can be disproportionately volatile, as the sharp depeg spike illustrated. This volatility stems from illiquid trading pools rather than the coin's own maysir-like design; per the judgment principle, such third-party trading behavior should not be read as evidence that USDA itself is a speculative instrument, even though investors should be aware that thin liquidity can produce gambling-like price swings on exchanges.

The Full 27-Point Screening

1. Legitimacy (4 criteria)

Criterion	Score	Analysis
Team Transparency	78/100	Named executives, EMURGO/Encryptus/BitGo institutional backing, and traceable public statements establish a credentialed, accountable team.
Fraud & Scam Risk	72/100	No fraud or rug-pull evidence was found; the one major incident was a liquidity-execution mishap that Anzens publicly addressed, not misconduct.
Use Case Legitimacy	85/100	Sources describe concrete real-world use — remittances, merchant payments, e-wallet off-ramps in multiple countries.
Ethical Practices	88/100	The coin's own design is a payments/remittance stablecoin with no targeting of a haram sector.

Summary: Anzens USDA is backed by a named, institutionally-affiliated team (EMURGO, Encryptus, BitGo) with no fraud indicators, though one major liquidity-related loss incident drew public attention.

2. Project Operations (9 criteria)

Criterion	Score	Analysis
Core Protocol Business	88/100	The base protocol is a stablecoin issuance and payments rail, not a prohibited business line.
Transaction Fees	88/100	Minting and burning carry zero Anzens fees, with only standard network gas applying, avoiding riba-like fee extraction.
Treasury Assets	32/100	Reserves explicitly include "US Treasury equivalents," i.e., interest-bearing government debt, alongside cash.
Revenue Model	35/100	Explicit fee schedule is riba-free, but the disclosed reserve composition (interest-bearing treasuries) implies at least part of issuer revenue may derive from interest income, though this is not stated outright.
Transparency	50/100	Sources show public updates and forum disclosures, but also explicitly note the absence of a published smart contract audit or open developer documentation.
Governance	28/100	Issuance and compliance are centrally controlled by Anzens Inc., EMURGO, and Encryptus with no decentralized governance token for USDA.
Launch Fairness	82/100	USDA has no pre-mine or insider allocation; supply is created only via 1:1-backed on-demand minting.
Token Distribution	80/100	Distribution is purely demand-driven minting/redemption rather than a fixed allocation with insider tranches.
Speculation/Utility Ratio	72/100	Documented use cases (remittances, payments, merchant settlement) show utility dominance, though DEX trading/liquidity events show some speculative secondary-market activity.

Summary: USDA is a fee-free, on-demand mint/redeem Cardano stablecoin with centralized issuer governance and no published smart contract audit.

3. Financial Health (4 criteria)

Criterion	Score	Analysis
Protocol Revenue	32/100	Reserve composition including treasury instruments suggests possible interest-linked revenue, though no source states this as the explicit revenue model.
Financial Status	48/100	Market cap (~$10.6M) and TVL figures are disclosed, but the coin is small, thinly traded, and experienced a depeg event, indicating limited financial robustness.
Interest Assessment	35/100	The base protocol does not itself lend or borrow, but its disclosed reserves include interest-bearing US Treasury equivalents.
Audit Quality	10/100	A source explicitly states Anzens has not published a public smart contract audit for USDA's on-chain code.

Summary: USDA is a small, thinly-traded stablecoin whose reserves include interest-bearing US Treasury equivalents, and no audit of its Cardano smart contracts was found.

4. Token Economics (5 criteria)

Criterion	Score	Analysis
Token Purpose	85/100	USDA is clearly designed and used as a payment/utility stablecoin, not a meme or purely speculative token.
Governance Rights	N/A	USDA holders have no governance rights, which is neutral and expected for a redeemable payment stablecoin rather than a concern.
Rewards Distribution	90/100	The token carries no built-in fixed or variable reward mechanic; its only design goal is dollar-peg stability.
Speculation Controls	50/100	KYC-gated minting/redemption limits primary-market speculation, but a documented depeg incident shows secondary DEX markets lack adequate anti-speculation safeguards.
Asset Backing	42/100	Backing is described as cash plus "US Treasury equivalents," meaning it is not purely cash/halal-asset backed but includes interest-bearing sovereign debt.

Summary: See the criterion analysis above.

5. Staking Mechanism

Anzens USDA has no native staking mechanism, so these five criteria are not applicable and are excluded from the score entirely rather than counted as zeros.

Overall Assessment: USDA shows legitimate real-world utility and a credible team, but reserve backing that includes interest-bearing treasury instruments and the absence of a published audit are the key open concerns for Shariah screening.

Is Anzens USDA halal?

RibaSharia pillar · 55.3/100 · Review · 10 criteria

GhararSharia pillar · 60.7/100 · Review · 15 criteria

MaysirSharia pillar · 67.2/100 · Review · 11 criteria

LegitimacyDiligence dimension · 80.8/100 · Compliant · 4 criteria

ProjectDiligence dimension · 61.7/100 · Review · 9 criteria

FinancialDiligence dimension · 31.3/100 · Avoid · 4 criteria

TokenomicsDiligence dimension · 71.4/100 · Compliant · 5 criteria

StakingDiligence dimension · 63/100 · Review · 5 criteria

A portion of profit from USDA isn't fully yours to keep — here's how to return it

27-point Shariah breakdown of USDA