Hassan Maishera
Celo announced via X on Wednesday that Mountain Protocol has launched its USDM stablecoin on the Celo network. Mountain Protocol’s USDM is a prudentially regulated, permissionless, U.S. Treasury-backed stablecoin and is the first yield-bearing stable asset to join Celo's ecosystem of 14 stables.
With 594K+ DAUs & $3.5B+ monthly stablecoin transfer volume, the Celo ecosystem continues to expand with the integration of USDM. USDM further diversifies the ecosystem of assets tracking the US Dollar, Philippine Peso, West African Franc, Kenyan Shilling and more.
Celo is an open platform that supports various distributed applications, smart contract development, and payments using e-mail addresses and phone numbers as public keys. CELO is down 1% in the last 24 hours and is currently trading at $0.4238.
