M^0, a decentralized stablecoin minting protocol, has raised $35 million in a Series A funding round led by Bain Capital Crypto.

M^0 is a protocol that allows approved entities to create a stablecoin called M, which is backed by U.S. Treasuries and is overcollateralized, meaning that there is more value in the collateral than the value of the stablecoin.

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