M0 Secures $40M Series B for Stablecoin Network Expansion

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.

Companies working on this

StartupHub profiles of the companies this article names, with funding and a one-liner from our database.

Celsius

$3.5B

Crypto lending platform offering interest on deposits and loans against crypto assets.

Phantom

$3.0B

A multi-chain crypto wallet providing secure asset management, trading, and embedded developer SDKs.

StarkWare

$8.0B

Develops blockchain scaling solutions using STARK technology for Ethereum-secure, fast, and seamless user experiences.

Figment

$1.4B

A blockchain infrastructure company providing staking solutions, developer tools, and analytics for Web3 networks.

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.