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Manta Network announced the launch of wUSDM through BlackRock BUIDL Fund support and Mountain Protocol.
In the statement, it was stated that Manta Network's wUSDM issued through the Mountain Protocol was supported by BlackRock's BUIDL Fund.
“Manta Network is proud to announce that wUSDM, the on-chain yield-generating stablecoin distributed by Mountain Protocol on Manta Pacific, is now backed by BlackRock's BUIDL Fund and facilitated through Securitize, BlackRock's tokenization platform and transfer agent for BUIDL.
USDM is a stablecoin distributed by the Mountain Protocol and historically backed by US Treasury bills. Now USDM will also be supported by BlackRock's BUIDL Fund.”
🔱 wUSDM on #MantaPacific via @MountainUSDM is now backed by @BlackRock’s BUIDL Fund, managed through @Securitize.
Holders benefit from BUIDL’s institutional-grade security and transparency while earning yield.
Learn more:https://t.co/W0qHaNKGnB pic.twitter.com/phYl5MAnCN
— Manta Network (🔱,🔱) Meme-ta Szn (@MantaNetwork) June 27, 2024
After this news, MANTA price started to rise.
*This is not investment advice.