According to TechFlow, on July 26, Mountain Protocol, an issuer of yield-based stablecoins, announced that its license had been upgraded to a full license by the Bermuda Monetary Authority (Class F), which is the highest license available to digital asset businesses in Bermuda. Only a few companies such as Coinbase, Circle, Hashkey and Zero Hash have obtained such licenses. This is the first time that a Bermuda digital asset startup has been promoted from Class M to Class F in less than a year of operation.

According to previous news, Mountain Protocol completed an $8 million Series A financing in June, led by Multicoin Capital.