M0

Stablecoins like USDT and USDC were the first wave. But they're gen-1: naive by design. There's so much more you can build. W/ Joao Reginatto Brian McNutt Joe Chui Crypto Mavericks

Joao Reginatto is headed to Washington, DC for Stablecon USA, unpacking stablecoin design on the main stage. Our team will be around all week. Reach out if you want to talk stablecoin strategy. 🫡

He spent eight years at Circle helping build USDC. Then he left to argue the world does not need another USDC. It needs thousands of them. Meet Joao Reginatto, Chief Product and Strategy Officer at M0. At Circle he was VP Product for Stablecoins and oversaw the development and launch of USDC and EURC. In August 2023 he joined M0, a platform built on the premise that the model he had just spent eight years perfecting does not scale to what comes next. A stablecoin today is a product. One company holds the reserves, owns the brand, controls the contract and keeps the yield. Build on it and you inherit all four decisions. 🗨️ "You can't call it infrastructure if you have to be married to the issuer." M0 splits the stack. Regulated entities hold reserves. Developers control token logic, compliance rules, permissions and where the yield goes. One shared liquidity primitive sits underneath, so a thousand branded dollars do not become a thousand isolated pools. The numbers: 📈 $100M+ raised. $35M Series A led by Bain Capital Ventures (BCV) Crypto in 2024, $40M Series B from Polychain Capital, Ribbit Capital and Endeavor Catalyst 📈 $300M+ in platform supply as of July 2025, up 215% from the start of that year 📈 Newly issued stablecoins above $10M in supply grew 89% last year Who is building on it: ✅ MetaMask USD, via Stripe's Bridge ✅ PYUSDx, with MoonPay and PayPal ✅ MoneyGram's MGUSD on Stellar, with M^0 building the mint and redeem contracts ✅ Exodus, 1Money, Noble, Usual, KAST, Playtron ✅ Anchorage Digital, on regulated US issuance His philosophy: 💡 "The premise is that money is plural. In the traditional world, every commercial bank issues a slightly different version of the same currency. We accept that because there's strong interoperability. In crypto, that's missing." 💡 "The value is at the edge. It's the apps that build trust with users. That's where the upside belongs." 💡 "Infrastructure that operates within a silo is a product." What's next? Whether companies will issue their own dollars is settled. MoneyGram, MetaMask, PayPal's ecosystem and Exodus have already answered it. The open question is who captures the value. In the closed model, the issuer keeps the reserve yield and the switching cost. In the open model, the issuer becomes replaceable and the app keeps the customer. That is the real fight, and Reginatto named it before most of the market did. Catch Joao on stage Stablecon in DC 9-10 September

Money is programmable, so fragmentation across stablecoins is inevitable, and that's fine. What's missing is the technology making a dollar a dollar everywhere, instead of trading one stablecoin for another like they're different currencies, which is what we do today. W/ Joao Reginatto Brian McNutt Joe Chui Crypto Mavericks

Every stablecoin issuer thinks they need the same thing. They don't. Luca Prosperi breaks down why 👇

Stablecoins and tokenized deposits aren't the same thing, but they'll somehow merge. W/ Luca Prosperi Aaron Stanley Bits and Borders

Stablecoins were always meant to be programmable money and as loyalty points, rewards, and spending rules get built in, the line between 'money' and 'branded money' is only going to blur further. W/ Tokenized Podcast Luca Prosperi

ICYMI: Catch M0’s Head of BD & Partnerships, Laert Skreli, on Anchorage Digital’s Vibestream discussing what’s changed in 2026 and what it actually takes to launch a stablecoin. Live tomorrow at 12pm ET. Tune in!

Next week on the Vibestream, hear from M0 and Anchorage Digital: - What’s changed in the 2026 stablecoin issuance market - Why redemptions and reserve reporting matter as much as token design - Where stablecoin adoption is going next Featuring Emanuele R. and Laert Skreli

Next week on the Vibestream, hear from M0 and Anchorage Digital: - What’s changed in the 2026 stablecoin issuance market - Why redemptions and reserve reporting matter as much as token design - Where stablecoin adoption is going next Featuring Emanuele R. and Laert Skreli