PANews reported on May 13 that Anchorage Digital, a federally chartered crypto bank in the United States, announced on Monday that it has signed a definitive agreement to acquire stablecoin issuer Mountain Protocol. This move is part of its strategy to deepen support for institutional stablecoin usage. Anchorage stated that after completing the relevant procedures and obtaining regulatory approval, it plans to integrate Mountain's technology, team, and licensing framework into its own operations. As part of the acquisition, it will gradually phase out the USDM token through an "orderly phased deactivation process."

Mountain is regulated by the Bermuda Monetary Authority and issues the yield-generating 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 within the first few months after its launch, the supply rapidly grew to $150 million, but then the supply decreased to $50 million.