M^0, a decentralized stablecoin minting protocol, has raised $35 million in a Series A funding round led by Bain Capital Crypto.
M^0 , a decentralized stablecoin minting protocol, has raised $35 million in a Series A funding round led by Bain Capital Crypto.
M^0's Series A round comes over a year after it raised $22.5 million in a seed funding round led by Pantera Capital in April 2023. The Series A round brings M^0's total funding to $57.5 million. Prosperi noted that the demand for the Series A round was 2.5 times the amount raised.M^0 is a stablecoin minting protocol based on Ethereum where approved entities can create a stablecoin called M, which is "overcollateralized by U.S. Treasuries only.
Prosperi noted that other stablecoin issuers, such as Agora and Mountain, could also join the protocol and mint M according to M^0 standards. "M^0 is actually a network that can connect all those compatible issuers," he said.
Crypto Ecosystems Crypto Infrastructure Deals Defi Infrastructure Layer 1S Stablecoins Startups Venture Capital Ethereum Series A Tokens
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