According to Foresight News, DeFi platform M^ZERO will enable crypto institutions to mint and issue decentralized stablecoins backed by US Treasury bonds. M^ZERO is set to launch in the second quarter of 2024, with its initial user base expected to include crypto-friendly institutions, funds investing in DeFi, and market makers.
Foresight News previously reported in April 2023 that M^ZERO had completed a $22.5 million seed funding round. This round was led by Pantera Capital, with participation from Road Capital, AirTree, Standard Crypto, SALT Fund, ParaFi Capital, Distributed Capital, Kraynos Capital, Earlybird, and Mouro Capital.