Anchorage, the only OCC-regulated crypto bank, acquires Mountain USDM, expanding its institutional stablecoin strategy as the U.S. clarifies stablecoin regulations.

Anchorage Digital has signed a definitive agreement to acquire Mountain Protocol, the issuer of the USDM stablecoin, in a deal that is subject to customary closing conditions and regulatory approval. Anchorage said the acquisition will bring Mountain Protocol’s team, technology, and licensing framework into its platform to expand its stablecoin capabilities for institutions. The deal matters because Anchorage is the only federally chartered digital asset bank in the U.S., and the acquisition gives it a regulated stablecoin business at a time when stablecoin oversight is becoming clearer in the U.S. and institutions are looking for compliant infrastructure. Mountain Protocol is also winding down USDM in an orderly process: it stopped minting USDM on May 12, rewards are scheduled to continue for a limited period before dropping to 0% APY, and holders can redeem through Mountain or swap on exchanges.

✨ AI-generated background, compiled from web sources — not editorial content.

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