Mountain Protocol Signs Definitive Agreement to be Acquired by Anchorage Digital
Mountain Protocol, the Bermuda Monetary Authority regulated company behind the Mountain USD stablecoin (USDM), announced today that it signed a definitive agreement to be acquired by Anchorage Digital. Following the acquisition — which is subject to customary closing conditions and regulatory approval — Mountain Protocol’s team, technology, and licensing framework will become part of Anchorage Digital to help expand Anchorage Digital’s stablecoin offerings.
The move comes amid growing global adoption of stablecoins, as well as increasing regulatory clarity in the US. Mountain Protocol and Anchorage Digital are combining their strengths to meet rising institutional demand.
Anchorage Digital brings deep regulatory experience and is home to the only federally chartered crypto bank in the US. Mountain Protocol adds a proven technology stack and licensing framework. Together, we’re building infrastructure designed to serve both active participants in the crypto ecosystem as well as the next wave of institutions entering digital finance.
“Stablecoins are becoming the backbone of the digital economy. With recent regulatory progress and new institutional use cases, our long-term vision is clear: every business will be a stablecoin business. By acquiring Mountain Protocol, we are taking a significant step forward in supporting institutional stablecoin adoption and advancing a new era of safety, security, and regulatory compliance in the global digital asset ecosystem”, said Nathan McCauley, CEO of Anchorage Digital.
“Joining Anchorage Digital marks an important milestone in the evolution of the industry. By combining our stablecoin expertise with Anchorage Digital’s trusted infrastructure and regulatory expertise, we’re well-positioned to meet the growing global demand for stablecoin services”, stated Martin Carrica, CEO of Mountain Protocol.
“With USDM, we proved that it’s possible to build stablecoin infrastructure that is secure, transparent, and fully aligned with regulatory expectations. I’m excited to bring that same execution mindset to Anchorage Digital as we build the next generation of stablecoin capabilities for institutions”, said Matias Caricato, CTO and Co-Founder of Mountain Protocol.
USDM Wind-Down Process
As part of the acquisition, Mountain Protocol will begin an orderly wind-down process for the Mountain USD stablecoin (USDM). The wind-down of USDM will be conducted in an orderly fashion to ensure a smooth and transparent transition.
Minting new USDM will be disabled from May 12th 2025, but all other features will be supported. USDM rewards will remain active for 30 days. After that initial 30 day period, the rewards rate will be set to 0% APY.
Primary customers will be able to redeem their USDM through the Mountain Protocol Platform, while other USDM holders are encouraged to swap their USDM for other tokens through available exchanges.
We understand the importance of a seamless transition for all USDM holders and are committed to providing full support throughout this process. For more information and FAQ, please visit our documentation.
About Anchorage Digital
Anchorage Digital is a global crypto platform that enables institutions to participate in digital assets through custody, staking, trading, governance, settlement, and the industry’s leading security infrastructure. Home to Anchorage Digital Bank N.A., the only federally chartered crypto bank in the U.S., Anchorage Digital also serves institutions through Anchorage Digital Singapore, which is licensed by the Monetary Authority of Singapore; Anchorage Digital New York, which holds a BitLicense from the New York Department of Financial Services; and self-custody wallet Porto by Anchorage Digital. The company is funded by leading institutions including Andreessen Horowitz, GIC, Goldman Sachs, KKR, and Visa, with its Series D valuation over $3 billion. Founded in 2017 in San Francisco, California, Anchorage Digital has offices in New York, New York; Porto, Portugal; Singapore; and Sioux Falls, South Dakota. Learn more at anchorage.com, on X @Anchorage, and on LinkedIn.
About Mountain Protocol
Mountain Protocol is a Bermuda Monetary Authority regulated digital asset company behind the Mountain USD stablecoin (USDM). Focused on providing innovative stablecoin solutions, Mountain Protocol is committed to transparency and regulatory compliance.
