Stablecoin startup M0 has raised $40 million in Series B funding as venture capital firms continue to pile money into the sector.
The funding round was led by Polychain and Ribbit Capital and included contributions from the Endeavor Catalyst fund and existing investors Pantera and Bain Capital Crypto, according to an emailed announcement on Thursday.
The news was reported earlier by Fortune.
M0, which has now raised almost $100 million in capital do far, declined to disclose its valuation in the funding round, according to the report.
The startup is building a network for stablecoin issuers to deploy tokens without having to build their own software for transferring assets across chains or changing one token for another.
Luca Prosperi, co-founder and CEO, sums up the project’s aim as building “the layer zero of money,” according to Fortune’s report.
Stablecoins – token pegged to the value of a traditional financial asset such as a fiat currency – have proliferated in 2025, driven by the promise of clear regulation in the U.S., which came to fruition with the passing of the GENIUS act last month.
The market capitalization of stablecoins exceeded $289 billion as this month, more than doubling in size in 2025.
This trend has been accompanied by venture capital firms piling money into stablecoin projects through a string of funding rounds, of which M0’s is one of the largest.
Read More: Tether-Focused Blockchain Stable Raises $28M to Power Stablecoin Payments
UPDATE (Aug. 28, 16:30 UTC): Updates to reflect primary sourcing is M0’s emailed announcement, rather than Fortune’s report.
CORRECTION (Aug. 28, 16:30 UTC): Corrects the company’s name from Mo to M0.
