ChainCatcher news, based on the Cosmos blockchain, has launched a new USD-pegged stablecoin USDN using the decentralized stablecoin infrastructure provided by M^0 for the first time.M^0 is a protocol on Ethereum that offers a "stablecoin extension engine," allowing developers to adopt the M^0 standard stablecoin $M and customize various features, including branding, built-in compliance tools, and yield distribution.USDN will utilize $M as its "core building block," providing a "trustworthy neutral digital dollar" for the broader Interchain ecosystem.

ChainCatcher news, the stablecoin minting protocol M^0 has completed a $35 million Series A funding round, led by Bain Capital, with participation from Galaxy Ventures, Wintermute Ventures, and GSR. M^0 previously raised $22.5 million in seed funding led by Pantera Capital at the beginning of 2023.

ChainCatcher news, according to CoinDesk, the government-backed stablecoin protocol M^0 has released its white paper, website, and other details regarding the protocol.It is reported that the M^0 team members include those from MakerDAO and Circle, and they completed a $22.5 million seed round financing led by Pantera Capital last year.