Stablecoin Platform M0 Raises $40 Million in Series B Round

Switzerland located stabile Platform M0 has picked up $ 40 million in series B financing, because according to a press release on Thursday it dedicates the relationship between token expenditure and blockchain developers.

The financing round, including Polychain Capital, Ribbit Capital and the Endeavor Catalyst Fund, also saw participation of existing investors such as Pantera and Bain Capital Crypto, M0 said. The company has now collected $ 100 million since its foundation in 2023.

The development is because different companies want to benefit from a stablecoin tree through position oneself as a leadership To the crypto space for companies in the traditional business world, after the passage of the Stablecoin regulation of this year in the US

“Centralized issue and simple models with white labels are far from enough,” said M0 co-founder and CEO Luca Prosperi in a statement. “We want to enable the builders of great fintech products to actually arrange the digital dollar pile that they use.”

The company says it has a “first principles” approach of stablecoins by separating the stabile reserve management from programmability. This means that regulated entities manage the assets that support stabilecoins on the M0 platform – such as cash and American treasury – while developers can use M0 to determine who can create, retain and move the assets.

Stablecoins that debut via the M0 platform his application specific and M0 said that his platform surpassed $ 300 million in aggregated delivery in July, more than doubled from January.

M0’s platform will Support the debut From the Musd Stablecoin from Metamask, M0 said. A week ago, the team behind the self-herb wallet indicated that his dollar-peget token would debut Ethereum and the low-2 scale network Linea Later this year. (Disclosure: Metamask -Mother Company Consensys is one of the 22 investors in Decrypt, who retains editorial independence.)

M0 emphasized other builders on its platform, including the Noble Protocol, Stablecoin Protocol, usual, Gaming -Operating System Playtronand payment company Kast.

Stablecoin platform bridge, that was bought Due to payments Giant Stripe for $ 1.1 billion last year, integrated into the M0 platform as his first US -regulated issue, M0 said Earlier this month on X.

Bridge has been set to offer licenses and monitoring for Musd, in addition to reserve management, but M0 noted that other companies broke down by publishing Stablecoins through its platform.