Mountain Protocol
Mountain Protocol was a blockchain technology company that issued USDM, a permissionless, yield-bearing stablecoin 100% backed by short-term U.S. Treasuries, regulated by the Bermuda Monetary Authority, and designed for institutional-grade transparency, security, and composability within DeFi, but is currently undergoing an orderly wind-down due to acquisition.
Industry
Finance & Insurance
Market Categories
Stablecoin Issuers
Business function (Horizontal)
Finance
Headquarters Location
Pembroke, Bermuda
Product Name
Mountain Protocol Portal
Parent Company
Mountain Protocol
Founder
Martín Carrica
Web2vsWeb3
Web3
Access Model
API
Target Users
Institutions, Other
Competitors
RWA-Backed Stablecoins & Tokenization Platforms: Ondo Finance ($USDY), Franklin Templeton (BENJI Token), Matrixdock (SBT), Backed Finance (bTokens), Maple Finance (Cash Management Pool), BlackRock (BUIDL fund), Archblock (1USD), Usual (USD0), First Digital Labs (FDUSD). <br> General Stablecoin Issuers: Tether (USDT), USD Coin (USDC), PayPal USD (PYUSD), TrueUSD (TUSD), Binance USD (BUSD), Dai (DAI). <br> DeFi Lending Protocols: Lybra Finance (eUSD, peUSD), Reflexer Finance (RAI, FLX).
Business Function (stablecoins)
Issuance & Redemption, Reserve Management, Compliance & Regulatory Oversight, Liquidity Provision, Yield Management, Transaction Settlement
Feature completness
Product differentiation
First permissionless, yield-bearing stablecoin backed by U.S. Treasuries; Daily rebasing mechanism for yield accrual; Regulated by Bermuda Monetary Authority; Robust bankruptcy-remote reserve structure.
Privacy & Data protection certificate
Years in business
2.49
Employees
<10
Horizontal Applications
Lending & Borrowing, Decentralized Finance (DeFi) Applications
Tech stack modernity
ERC20 token, Multi-chain (Ethereum, Polygon, Arbitrum, Optimism, Base, ZKSync Era, Celo), Fireblocks (MPC custody), Open Zeppelin audits, Chainlink CCIP.
Product Roadmap
Undergoing orderly wind-down due to acquisition by Anchorage Digital. Minting disabled, redemptions limited. Future development determined by Anchorage Digital.
Product Roadmap
Undergoing orderly wind-down due to acquisition by Anchorage Digital. Minting disabled, redemptions limited. Future development determined by Anchorage Digital.
API Quality
Internal-Only
Documentation Link
Enterprise readiness
High readiness in design (institutional-grade, regulated, secure, scalable). However, current acquisition and wind-down make it unsuitable for new enterprise deployments.
Security & Compliance Readiness
Regulated by Bermuda Monetary Authority; 1:1 collateralization by short-term U.S. Treasuries; Segregated, bankruptcy-remote reserves; Audited by Open Zeppelin; Built on Fireblocks; KYC/AML for primary users. No explicit SOC2, GDPR, HIPAA certifications.
Documentation quality assessment
Provides details on product mechanisms (rebasing, collateralization) and legal terms. Lacks extensive technical developer guides or API references.
Support Methods
No explicit details on formal support, average response times, or dedicated account management.
Critical capabilities
USDM (ERC20 token), Daily rebasing mechanism, Natively supported on Ethereum, Polygon, Arbitrum, Optimism, Base, ZKSync Era, Celo, Built on Fireblocks (MPC custody), Audited by Open Zeppelin, Leverages Chainlink's CCIP for bridging.
Support & Account Management
No explicit details on formal support, average response times, or dedicated account management.
51 Score™
319.17
Product & Service
36.0
Stability & Maturity
46.7
Technology & Innovation
20.0
Enterprise Readiness
25
Categorization
Founder
Martín Carrica
Parent Company
Mountain Protocol
Market category
Stablecoin Issuers
Target Users
Institutions, Other
Top competitors
RWA-Backed Stablecoins & Tokenization Platforms: Ondo Finance ($USDY), Franklin Templeton (BENJI Token), Matrixdock (SBT), Backed Finance (bTokens), Maple Finance (Cash Management Pool), BlackRock (BUIDL fund), Archblock (1USD), Usual (USD0), First Digital Labs (FDUSD). <br> General Stablecoin Issuers: Tether (USDT), USD Coin (USDC), PayPal USD (PYUSD), TrueUSD (TUSD), Binance USD (BUSD), Dai (DAI). <br> DeFi Lending Protocols: Lybra Finance (eUSD, peUSD), Reflexer Finance (RAI, FLX).
