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Mountain Protocol

Mountain Protocol Limited is a Bermuda-regulated digital-asset business that issued USDM. In 2025, Mountain announced a USDM wind-down process connected to Anchorage Digital's announced acquisition of Mountain Protocol.

CEOMartin Carrica
StagePrivate
FoundersMartin Carrica
Websitemountainprotocol.com ↗

Products

USDM active $42M
Mountain USD
Rwa Backed

USDM was Mountain Protocol's USD-pegged, yield-bearing stablecoin originally backed by short-term U.S. Treasury securities. In 2025, Mountain initiated a wind-down in which minting was disabled, rewards were reduced to zero, and remaining reserves were transitioned into a USDC-backed Uniswap redemption structure.

Overview

Mountain Protocol Limited is a Bermuda-regulated digital-asset business that issued USDM. In 2025, Mountain announced a USDM wind-down process connected to Anchorage Digital's announced acquisition of Mountain Protocol.

Products

Stablecoins issued by this entity: USDM.

Regulatory Status

Bermuda
Digital Asset Business license
licensed2026

Funding

RoundAmountYear
Series A$8M2024

Recent Activity