Anchorage Digital Buys Mountain, USDM Stablecoin disappears

Crypto Bank Anchorage Digital expanded its performances by obtaining the mountain protocol, which is the Stablecoin source that he says will start to decrease in its main fall, Mountain USD (USDM).

The acquisition process, which is subject to the usual closure conditions and organizational approval, will merge the mountain protocol team, the accumulation of technology and the license framework in the current Anchorage offers, the marina He said In the May 12 statement.

While the conditions of the deal were not revealed, it reflects Speeding the number of acquisitions Between Crypto and Trafi companies in recent months.

He explained to the acquisition, Nathan McCalli CEO Nathan McCalli said that Stablecoins has become the backbone of the encryption economy, with the expectation that “every work” will ultimately use Stablecoins as part of their operations.

CEO of Mount Carrink He said The company’s experience in Stablecoins, along with an infection for encryption in Anchorage, weakens Contents compact To meet the growing global demand for stablecoin services.

Anchorage is the only digital asset bank in the United States in the United States, while Stablecoin services from the mountain protocol are organized by the Bermuda Monetary Authority.

It comes about nine months after anchorage foot Stablecoin Bonuses for Institutions that keep US dollar (PayPal) (PayPal) (PayPal) (PayPal) (PayPal)pyusd) Stablecoin.

Usdm mountain protocol for completion

As part of the acquisition, the Mountain Protocol said it would begin a “decline in the US dollar organization”? Pregnancy for pregnancy stablecoin.

The mountain protocol said it stopped Comfort in Stablecoin On May 12, but I noticed that USDM The rewards will remain active for another 30 days. Next, the reward rate will be set on 0 % APY.

Stablecoin ISSUER customers can recover USDM through the company platform, while other USDM holders are encouraged to switch Stablecoin to get other symbols on stock exchanges.

Related to: “Dark Stablecoins” can appear with tightening regulations

Mountain protocol Usdm based on ETHEREUM It should not be confused with Meheen Finance from Meheen Finance, Mehen Finance, Who works on Cardano.

The USDM mountain protocol achieved great success shortly after its launch in late 2023, as it rose to the ceiling of a market of $ 155 million by March 2024, according to what he said. rwa.xyz. However, the maximum market decreased less than $ 50 million.

RWA.XYZ estimates that there are about 10,820 USDM holders.

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