TechFlow news, according to The Block, cryptocurrency market maker Wintermute has partnered with stablecoin issuer Mountain Protocol to enhance the liquidity of USDM, enabling non-U.S. users to gain exposure to U.S. Treasury yields.
Wintermute will allow users to exchange USDM for USDC at any time, while avoiding bank-related risks associated with USDM reserves.
Mountain Protocol stated that Wintermute will swap USDC for USDM and hold the USDM on its books until traditional financial markets open, allowing Mountain Protocol to liquidate the U.S. Treasuries held in its USDM reserves, after which it will repurchase USDM from Wintermute.
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