Manta Foundation Allocates Treasury Assets to Yield-Bearing Stablecoin wUSDM

Manta Foundation Allocates Treasury Assets to Yield-Bearing Stablecoin wUSDM

The Manta (MANTA) Foundation has announced its decision to allocate a portion of its treasury to wUSDM, a yield-bearing stablecoin by the Mountain Protocol. This move aims to diversify the foundation's treasury assets and generate additional revenue. Mountain Protocol is backed by BlackRock's Ethereum (ETH)-based tokenized fund BUIDL. The Manta Foundation, a non-profit organization founded in 2022, is dedicated to the development and promotion of the Manta Ray privacy protocol. wUSDM is a stablecoin pegged to the value of the US dollar but offers the added capability of earning yield through lending and staking. This decision aligns with the Manta Foundation's goal of diversifying its treasury holdings beyond MANTA tokens and fiat currencies. wUSDM provides a stable and yield-generating asset that can help the foundation achieve its long-term financial objectives. The allocation to wUSDM also serves as a testament to the growing adoption of stablecoins in the cryptocurrency ecosystem. Stablecoins offer stability and reduce volatility, making them attractive for investment and use in decentralized finance (DeFi) applications. With this move, the Manta Foundation joins a growing number of organizations and institutions exploring the integration of wUSDM into their treasury management strategies.