Stablecoin USDM Now Supports Base Chain

IconCryptoNewsTerminal Staff24 Jul, 2024

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Stablecoin USDM Now Supports Base Chain

The issuer of the stablecoin USDM, Mountain Protocol, has announced support for the Base chain. USDM is backed by US Treasuries and pays interest, which helps it maintain its value. This move by Mountain Protocol is a significant development for the Base chain, as it will make it easier for users to trade and use USDM on the network. USDM is a stablecoin that is designed to maintain a value of $1.00. It is backed by a reserve of US Treasuries, which are considered to be one of the safest assets in the world. This backing helps to ensure that the value of USDM is stable, even during periods of market volatility. In addition to its stability, USDM also pays interest to holders. This makes it an attractive option for investors who are looking for a safe place to store their money and earn a return.

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