Collaboration Between Ozean and Mountain Protocol to Incorporate USDM into Oxygen
In Brief
In partnership with Mountain Protocol, Ozean is set to make USDM available on the Oxygen platform, enhancing services related to swaps, lending, and collateral management.
Clearpool has launched a blockchain solution for real-world asset (RWA) yield, as Ozean announces its collaboration with Mountain Protocol to integrate USDM into Oxygen (O2), which acts as a liquidity layer for RWA yield.
"By integrating USDM into O2, we're enriching our liquidity layer with a regulated stablecoin that generates yield,\" remarked Jakob Kronbichler, CEO and Co-founder of Ozean, in an official statement. \"We’re excited to welcome Mountain Protocol to the Ozean ecosystem and anticipate a deeper partnership as we broaden our ecosystem and service offerings,\" he added. Clearpool USDM is a regulated stablecoin that operates without requiring permission, offering yield and currently boasting an annual percentage yield (APY) of 5%. Designed to maintain a balance with the US dollar, it serves as a dependable digital asset for both transactions and savings. The stable value is upheld by facilitating trades at a value of $1 and utilizing short-term US Treasury bills as collateral through a bankruptcy-remote Special Purpose Vehicle (SPV) known as USDM Reserves Ltd. The total value locked (TVL) in USDM currently stands at $61 million, spread across Ethereum, Arbitrum, Optimism, Polygon PoS, and Base.
The USDM integration into O2 is solidified by the partnership between Ozean and BlackRock’s BUIDL fund, arranged via Securitize, which is BlackRock's tokenization platform for BUIDL. This collaboration amplifies institutional support, thereby enhancing both the security and yield opportunities of USDM, giving users greater assurance and potential access to increased returns within the Ozean ecosystem. Mountain Protocol has also garnered investments from prominent backers like Coinbase Ventures, Multicoin Capital, and Castle Island Ventures.
USDM is a regulated, yield-generating stablecoin launched by Mountain Protocol, underpinned by US Treasury assets and connected to the BUIDL fund from BlackRock. Mountain Protocol Thanks to Securitize, the BUIDL fund from BlackRock also boosts the security of wrapped USDM...
What Is Ozean’s O2?
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Ozean Alisa, a dedicated journalist at MetaversePost, focuses on cryptocurrency, zero-knowledge proofs, investments, and the broad spectrum of Web3. With a sharp eye for emerging trends and technologies, she provides in-depth coverage designed to inform and engage readers in the fast-changing realm of digital finance.
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