According to Wu, the stablecoin minting protocol M^0 announced the completion of a $35 million Series A financing round, led by Bain Capital, with participation from Galaxy Ventures, Wintermute Ventures and GSR. M^0 builds a global network through its new layer deployed on Ethereum, allowing any institution to mint stablecoins backed by U.S. Treasuries.
Previously, M^0 received $22.5 million in seed round financing led by Pantera Capital in early 2023.