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Quick take:
The Series B funding was structured as equity with token warrants for the company’s cryptocurrency, and brings the total raised to almost $100 million.
The fundraising comes barely six weeks after President Trump signed into law the stablecoin-focused bill, the GENIUS Act.
M0 is building a chain-agnostic network that allows stablecoin issuers to deploy their stablecoins without worrying about transfers between different chains.
M0, the crypto startup building a stablecoin issuance network, has raised $40 million in a Series B funding round led by Polychain Capital and Ribbit Capital. The fundraising also attracted participation from the Endeavor Catalyst fund, Pantera, and Bain Capital Crypto.
The round was structured as equity with token warrants for the M0 cryptocurrency, and brings the total raised to date to almost $100 million, according to the report by Fortune.
M0 plans to use the capital to accelerate the development of its chain-agnostic network that allows stablecoin issuers to deploy their products without worrying about cross-chain transfers.
Highlighting the two biggest stablecoin issuers, Luca Prosperi, co-founder and CEO of M0, told Fortune: “We cannot have 1,000 different Tethers and Circles. So what we did is create a layer where different issuers can come and connect and just ensure interoperability, liquidity among themselves.”
M0’s network also makes it easy for holders to easily change from one stablecoin to another. The company’s primary focus is on becoming profitable, as it continues to onboard as many stablecoin issuers to its network as possible.
“My mandate as a CEO in the next two to five years is to scale this network as much as possible,” said Prosperi. “This is the obsession.”
The announcement comes barely six weeks after President Trump signed into law the much-awaited GENIUS Act, which provides guidelines for issuing tokens pegged to fiat currencies and a framework for traditional banks to integrate digital assets into their systems.
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