M0, a crypto startup, secured $40 million in Series B funding. Polychain and Ribbit Capital led the round. This capital will advance its stablecoin infrastructure development.
Other investors included Endeavor Catalyst fund, Pantera, and Bain Capital Crypto. The funding comprised equity and locked cryptocurrency tokens. M0 has now raised nearly $100 million in total capital.
M0 Advances Stablecoin Infrastructure
The company develops technology for stablecoin issuers. M0 builds a network enabling token deployment and transfers across diverse blockchain technology platforms. For instance, it facilitates asset movement between Ethereum and Solana.
This network also allows conversion between different stablecoins, such as Circle's token and PayPal's. Furthermore, M0 aims to create a foundational layer for money, ensuring interoperability and liquidity among various issuers. It seeks to prevent fragmentation in the stablecoin market, which includes major players like Tether.
Cofounders Luca Prosperi and Gregory Di Prisco launched M0 in 2023. Prosperi previously advised MakerDAO. M0 recently partnered with MetaMask for its stablecoin launch. The company prioritizes scaling its network by onboarding numerous stablecoin issuers. This strategy focuses on widespread adoption for future digital payments.
