M0 Raises Series B, with investment from Polychain and Ribbit Capital, Bringing Total Funding to $100M

Quick take:

• M0 enables developers to launch custom stablecoins with interoperable liquidity and full onchain programmability.
• With a 215% increase in supply since the beginning of 2025, the M0 platform powers custom digital dollars for MetaMask, Noble, Usual, Kast, and Playtron, among others.

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August 28, 2025 || Zug, Switzerland – M0, the universal stablecoin platform that enables crypto apps and protocols to create application-specific stablecoins, today announced its $40 million Series B round from Polychain Capital, Ribbit Capital, and the Endeavor Catalyst fund. Existing investors Road Capital, Pantera, Bain Capital Crypto, and others also participated, bringing total capital raised to date to $100 million. 

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Founded in 2023, M0 is led by a team of veterans from MakerDAO, Circle, and other leading crypto projects. M0 is redefining stablecoin infrastructure with a first-principles approach. Rather than offering a single branded stablecoin under a centralized issuer model, M0 provides the foundational rails to launch application-specific digital dollars that are customizable, interoperable, fully onchain, and managed by a network of issuers.

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M0 separates stablecoin reserve management from programmability. Regulated entities connect to the platform to hold and manage reserves, while developers use the platform to control how their stablecoins function: defining who can mint, hold, transfer, while tailoring new revenue streams and loyalty opportunities. The M0 platform is designed so that every dollar issued on it operates on a common layer, ensuring liquidity remains unified across the ecosystem even as new, specialized stablecoins emerge.

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“We want to empower the builders of great fintech products to actually control the digital dollar stack they utilize. The current incarnation of stablecoin technology isn’t fit for that purpose.” said Luca Prosperi, Co-founder and CEO of M0. “Builders want the ability to customize the technology, they want choice over their issuance options, and they want interoperability and unified liquidity. Centralized issuance and simple white-labeling models are far from enough. M0 has opted for a first-principles design that delivers precisely on what builders need.”

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“M0’s architecture introduces a new level of flexibility for how stablecoins can be issued and integrated.” said Josh Rosenthal, General Partner at Polychain Capital. “It treats stablecoins not as finished products but as programmable building blocks. That shift from static instruments to customizable financial primitives makes M0 uniquely suited to support a wide range of use cases, from onchain protocols to fintech applications. We believe this approach will define how value moves through open financial systems in the future.”

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“Builders want more than just access to stablecoins – they want control over how programmable money moves, how it's held, and how it creates real value for their users." said Zack Rosen, Partner at Ribbit Capital. "M0 delivers that control while eliminating the usual complexity, which explains the strong adoption we’re seeing. As long-term believers in the convergence of traditional finance and decentralized infrastructure, we see M0 as essential infrastructure enabling the next wave of innovation.”

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M0’s platform is already powering custom stablecoins for a growing set of builders and use cases, including: 

• MetaMask, the world’s leading self-custodial crypto wallet, is launching mUSD, its native stablecoin which is integrated into MetaMask’s ecosystem.
• Noble, an RWA-focused blockchain, built USDN, a customizable, composable stablecoin. 
• Usual, a stablecoin protocol, launched USD0, a permissionless stablecoin backed by real-world assets
• KAST, a neobank-style platform operating in 150+ countries, is issuing branded stablecoins for payments, and savings on Solana.
• Playtron, a gaming platform OS, is using M0 to build its Game Dollar stablecoin.

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Announced last week, M0’s partnership with Bridge introduces US-based reserves and issuance to the network. Bridge’s role as the first US issuer on the M0 network expands the platform’s reach to more wallets, fintechs, and consumer platforms launching their own application-specific stablecoins.

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In July, the platform surpassed $300 million in aggregate supply across all M0-powered stablecoins, a 215% increase since the beginning of 2025, reflecting rapid adoption by various types of applications.

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“We are super excited to work with Polychain, one of the oldest crypto-native investors, and Ribbit, known for backing global founders who challenge the status quo, evidenced by its investments in Bridge, Privy, Morpho, and others,” added Prosperi.

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About M0

M0 is the universal platform powering builders of application-specific stablecoins. With M0, developers can build safe, programmable and interoperable digital dollars. Learn more at m0.org