Anchorage Doubles Down on Stablecoin Dominance—Acquires Mountain Protocol in Power Play
Crypto’s institutional darling just made its boldest move yet. Anchorage Digital—the federally chartered crypto custodian—snapped up Mountain Protocol, a rising star in the yield-bearing stablecoin space. No terms disclosed, but the message is clear: regulated players want a piece of the $150B stablecoin pie.
Why this matters: The deal gives Anchorage instant leverage in the battle for institutional stablecoin adoption. Mountain’s USDM (their ’compliant alternative’ to DeFi stablecoins) now gets Anchorage’s regulatory mojo and banking relationships. TradFi on-ramps incoming.
The cynical take: Because nothing screams ’decentralized future’ like a crypto custodian buying the rails for... checks notes... tokenized dollars. But hey—if it gets Wall Street to stop hoarding US Treasuries, we’ll call it progress.
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For Mountain Protocol, the partnership offers scale. CEO Martin Carrica emphasized that combining Anchorage’s robust infrastructure with Mountain’s stablecoin expertise will help the joint operation serve a growing market with regulatory clarity and global reach.
The acquisition follows a string of similar moves across the crypto and traditional finance space, as firms position themselves for the next phase of digital asset adoption. Anchorage’s acquisition comes less than a year after it launched a stablecoin rewards program tied to PayPal’s PYUSD.
As stablecoins continue to carve out a central role in institutional finance, Anchorage’s latest move suggests it’s aiming to lead the charge.
