Stablecoin protocol M^0 partners with KAST to launch offerings on Solana

M ^ 0 expanded its stable platform to Solana, allowing developers to launch programmable stablecoins.

Stable The M ^ 0 protocol develops at SolaraAllowing developers to create digital dollars adapted to their needs and easily interchangeable with high liquidity, the firm said in a press release shared with Crypto.News.

Kast, a Neobank built on Stablecoins, will be the first to use the M ^ 0 platform on Solana. According to the press release, the company plans to create two digital dollars for Tokensize deposits and develop later in payments and savings.

“By issuing our own stablecoin, we ensure total transparency, all customer deposits represented on the channel. Solana was the clear choice for deployment, given our solid existing partnership and its advantages in speed and low costs. ”

Raagulan Pathy, co-founder and CEO of Kast

Joao Reginatto, director of strategy of M ^ 0, explains that the company’s decision to bring M ^ 0 to Solana is motivated by its objective of allowing manufacturers to “create ecunines which are not only interoperable, liquid and adapted to their use cases, but which can also work on any scale”.

The last expansion only follows a few months after M ^ 0 associated with With the noble blockchain based on the cosmos to shake up the StableCoin market, which is mainly controlled by the attachment (USDT) and circle (USDC). Earlier in December 2024, Noble launched her new token supported in dollars, USDN, powered by the infrastructure of decentralized stablecoin of M ^ 0.

In June 2024, M ^ 0 raised 35 million dollars in a collection of standard funds directed by Bain Capital Crypto, the Capital Bath Crypto investment platform. In addition to Bath Capital Crypto, the phase of series A and launch attracted the support of existing investors as well as strategic partners, notably Galaxy Ventures, Wintermute Ventures, GSR, Caladan and SCB 10x. M ^ 0 previously raised $ 22.5 million in seed funding led by Pantera Capital at the beginning of 2023.