According to Fortune, 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 a $22.5 million seed round led by Pantera Capital in early 2023.