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Mountain Protocol issues, sells, and redeems the USDM digital stablecoin.
Mountain Protocol provides USDM, a stablecoin backed by U.S. Treasuries, and related services. The company describes USDM as an institutional-grade digital dollar focused on safety and compliance, with a stated 5.00% APY. Founded in 2023, it is based in Pembroke, Bermuda. In May,2025, Anchorage Digital agreed to acquire Mountain Protocol from Borderless Capital, Bankless Ventures, Castle Island Ventures, The Venture Dept, Coinbase Ventures, Daedalus, New Form, Aptos Foundation and Multicoin Capital.
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