Wintermute has partnered with stablecoin issuer Mountain Protocol to enhance USDM liquidity. This cooperation provides non-U.S. users with access to U.S. Treasury yields and will also allow users to exchange USDM for USDC at any time through Wintermute’s liquidity supply, avoiding the bank-side risk of USDM reserves. (The Block)
According to previous news, Mountain Protocol, a state-regulated income stablecoin, announced the completion of a seed round of financing, led by Nic Carter of Castle Island Ventures, with participation from Coinbase Ventures, New Form Capital, Daedalus Angels and others. Martin Carrica, co-founder and CEO of Mountain Protocol, said the amount of this round of financing is confidential due to regulatory requirements.