Anchorage Digital Agrees to Acquire Mountain Protocol Stablecoin Issuer

Anchorage Digital, a federally chartered digital asset bank, has signed a definitive agreement to acquire Mountain Protocol, a Bermuda Monetary Authority-regulated issuer of the yield-bearing USDM stablecoin backed by U.S. Treasuries. The acquisition aims to integrate Mountain Protocol’s technology, team, and licensing framework into Anchorage’s operations to enhance its institutional stablecoin capabilities and support rising demand from both traditional and crypto-native institutions. Anchorage CEO Nathan McCauley emphasized that stablecoins are becoming the backbone of the digital economy, with the acquisition marking a significant step towards broader institutional stablecoin adoption, regulatory compliance, and new use cases. The stablecoin market, currently valued at around $230 billion, is expected to grow to trillions of dollars this decade, attracting payment firms, fintechs, and banks, which is driving consolidation in the space. This move positions Anchorage to deepen its role in the institutional stablecoin ecosystem by leveraging Mountain Protocol’s expertise and regulatory standing. The integration highlights the strategic importance of combining regulated infrastructure with advanced stablecoin issuance technology to advance safety, security, and institutional participation in digital assets.