Stablecoin startup M0 announced the completion of a $40 million Series B funding round, led by Polychain and Ribbit Capital

Stablecoin startup M0 announced the completion of a $40 million Series B funding round led by Polychain and Ribbit Capital, with participation from Endeavor Catalyst Fund and existing investors including Pantera and Bain Capital Crypto. M0 co-founder and CEO Luca Prosperi declined to disclose his startup's valuation. The funding round involves equity and locks up the startup's cryptocurrency reserves—tokens that can only be sold after a specified period of time. To date, M0 has raised nearly $100 million.