USDM wound down Aug 2025 after Anchorage Digital acquisition. No longer actively issuing.
Overview
Ticker
USDM
Backing type
Yield-bearing
Market cap
$100M+
Peg currency
USD
Issuer
Mountain Protocol
Auditor
OpenZeppelin (smart contract); independent reserve attestation
Yield rate
~5% (daily rebase)
Launch year
2023
Reserves
Short-term US Treasuries
Supported Chains
EthereumBaseArbitrumPolygon
Regulatory
MiCA compliant
No
Jurisdiction
Bermuda
Bermuda Monetary Authority digital asset license
Features
Programmable✓
Rebaseable✓
Permissioned✓
Cross-chain✓
DeFi integrated✓
Institutional grade✓
Use Cases
Passive yield on stablecoin holdingsDeFi collateral with native yieldTreasury managementRebase-based savings product