TechFlow reports on July 26 that yield-bearing stablecoin issuer Mountain Protocol announced its license has been upgraded by the Bermuda Monetary Authority (BMA) from Class M to full Class F license, the highest classification available for digital asset businesses in Bermuda. Only a few companies such as Coinbase, Circle, Hashkey, and Zero Hash have previously received this license, making Mountain Protocol the first Bermudian digital asset startup to be promoted from Class M to Class F within less than a year of operation.
Previous report, Mountain Protocol completed an $8 million Series A funding round in June led by Multicoin Capital.
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