Anchorage Digital Acquires Mountain Protocol to Boost Institutional Stablecoin Adoption
Anchorage Digital, a leading digital asset platform for institutions, has announced a definitive agreement to acquire Mountain Protocol. The move is driven by the increasing significance of stablecoins in global finance and the anticipated surge in institutional demand for these solutions.
Nathan McCauley, CEO and co-founder of Anchorage Digital, believes stablecoins are set to become the backbone of the digital economy. He envisions a future where every business could potentially become a stablecoin business.
Mountain Protocol, the target of the acquisition, is the issuer of USDM, a multi-chain stablecoin fully collateralized by U.S. Treasuries. This acquisition will expand Anchorage Digital's stablecoin capabilities and support new institutional use cases, complementing its existing stablecoin rewards program and role as a launch partner in the Global Dollar Network.
The acquisition is expected to advance safety, security, and regulatory compliance in the global digital asset ecosystem. It is subject to customary closing conditions and regulatory approval.
Anchorage Digital's acquisition of Mountain Protocol, the issuer of the USDM stablecoin, is a strategic move to strengthen its stablecoin offerings and support institutional adoption. The deal reflects the growing importance of stablecoins in global finance and the anticipated increase in institutional demand for these solutions.
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