Mountain Protocol, a yield-based stablecoin issuer, announced the completion of an $8 million Series A funding round led by Multicoin Capital, with participation from Castle Island Ventures and Coinbase Ventures. Mountain Protocol plans to expand the supply of its USDM stablecoin to 500 million by the end of the year and to 5 billion by 2025. USDM is backed by U.S. Treasuries and currently yields about 5%. (TheBlock)