PANews reported on May 13 that according to CoinDesk, Anchorage Digital, a federally chartered crypto bank in the United States, said on Monday that it had signed a final agreement to acquire the stablecoin issuer Mountain Protocol, as part of its strategy to deepen its support for the use of institutional stablecoins. Anchorage said that after completing the relevant procedures and obtaining regulatory approval, it plans to incorporate Mountain's technology, team and licensing structure into its own operations; as part of the acquisition, it will gradually phase out the USDM token through an "orderly phase-out process."

Mountain is regulated by the Bermuda Monetary Authority and issues a yield-based stablecoin, USDM, which is backed by short-term U.S. Treasury bonds. According to RWA.xyz data, the token was launched at the end of 2023 and the supply quickly grew to $150 million in the first few months after its launch, but then the supply fell to $50 million.