Simply put
- M0 has secured $40 million in Series B funding.
- The company distinguishes between programmatic features and Stablecoin Reserve Management.
- M0 facilitates the launch of Metamask’s MUSD Stablecoin.
Located in Switzerland, Stablecoin Platform M0 announced on Thursday that it raised $40 million in its Series B funding round.
This funding round featured participation from notable investors such as PolyChain Capital, Ribbit Capital, and Endeavor Catalyst Fund, along with existing backers like Pantera and Bain Capital Crypto. Since its inception in 2023, M0 has raised a total of $100 million.
This development comes as various companies are looking to ride the wave of the Stablecoin boom. With recent regulations in the US regarding stablecoins, there seems to be a push for integrating crypto into traditional businesses.
“The traditional centralized publication and basic white label model aren’t enough anymore,” said Luca Prosperi, M0’s co-founder and CEO. “Our aim is to empower exceptional fintech developers with genuine control over the digital dollar stack they utilize.”
The company highlights a “first principle” approach to Stablecoins, which involves separating Stablecoin Reserve Management from programmability. This means that a regulated entity oversees the assets backing Stablecoins on M0’s platform, while developers can define who can create, hold, and transfer these assets.
The M0 platform, having surpassed a total supply of $300 million in July, reported that its application-specific Stablecoins have more than doubled since January.
M0 is also supporting Metamask in its launch of the MUSD Stablecoin. The team behind the independent wallet recently announced that the token, pegged to the dollar, will debut on Ethereum and the Layer 2 Scaling Network Linea in the later part of this year.
M0 pointed to other developers on its platform, including the regular token protocol Noble and the payment company Kast, alongside the Stubcoin protocol Game Operating System Playtron.
Notably, when payments giant Stripes integrated with the M0 platform last year, it was recognized as the first regulatory issuer in the US. M0 confirmed this collaboration earlier this month.
Bridge, another entity in the mix, plans to offer licensing and oversight of MUSD and will allow other companies to issue Stablecoins through the M0 platform.
