On July 24, Mountain Protocol, an interest-bearing stablecoin issuer, announced on X that it has launched on the Base chain, further expanding its ecosystem. The Base community can now access a composable interest-bearing stablecoin fully backed by U.S. Treasury bonds through this agreement. In addition, Mountain Protocol plans to integrate more blockchains. Earlier in June, Mountain Protocol announced the completion of a $8 million Series A round led by Multicoin Capital, with participation from Castle Island Ventures, Coinbase Ventures and other investors. Mountain Protocol is the issuer of USDM, an interest-bearing stablecoin "fully backed by US Treasury bonds".