M0 Raises $40M In Series B Round

Investors in the funding round included Polychain Capital, Ribbit Capital, Endeavor Catalyst, Road Capital, Pantera, and Bain Capital Crypto. The company plans to use the funds to expand its operations and further develop its platform.

M0 offers a platform for creating customized, application-specific stablecoins. Builders can design their own stablecoins with tailored branding, compliance, and yield features.

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M0 enables businesses to monetize digital dollar use cases while maintaining control over their financial technology without heavy operational demands.

Unlike traditional stablecoins, M0 uses an open, multi-issuer framework that supports interoperability between $M and its extensions, allowing creators to upgrade into independent issuers without relying on others for issuance.

"We cannot have 1,000 different Tethers and Circles," Prosperi told Fortune, referring to the two largest issuers of stablecoins. "So what we did is create a layer where different issuers can come and connect and just ensure interoperability, liquidity among themselves."

In 2023, he partnered with cofounder Gregory Di Prisco, also a former member of the MakerDAO team, to launch M0. Their startup focuses on building technology deeper in the stablecoin stack than companies like Bridge, recently acquired by Stripe.

M0 creates a network where stablecoin issuers can deploy tokens without worrying about complex software challenges, such as transferring assets across blockchains like Ethereum or Solana, or converting tokens like Circle’s into PayPal’s.

Currently Prosperi isn’t prioritizing profitability. Similar to Uber’s early strategy of expanding operations before focusing on revenue, M0’s goal is to onboard as many stablecoin issuers as possible. This includes partnerships, such as with the crypto wallet MetaMask, which recently launched its stablecoin using M0’s platform.

"Stablecoins are proliferating," Josh Rosenthal, a general partner at Polychain, told Fortune. "This is one of the hotter areas within the market within all of fintech, frankly,"

About M0

M0 is a platform that enables creators to easily build their own stablecoins, customizing aspects such as branding, rules, and how earnings are shared. It’s designed to work seamlessly with other systems and provides users with full control, eliminating the need for external reliance. M0 makes it simple and open for businesses to grow their digital money solutions.