Anchorage Digital Acquires Mountain Protocol to Bolster Institutional Stablecoin Market

Anchorage Digital, a federally chartered crypto bank regulated by the OCC, has acquired Mountain Protocol, the issuer of the regulated yield-bearing stablecoin USDM. This strategic merger aims to integrate Mountain’s advanced stablecoin infrastructure and team into Anchorage’s operations once regulatory approvals are received. The move strengthens Anchorage’s position in the fast-growing market for institutional stablecoins.