Stablecoin startup M0 has successfully closed a $40 million Series B funding round, with Polychain and Ribbit Capital leading the investment. The round also saw participation from Endeavor Catalyst Fund and existing investors such as Pantera and Bain Capital Crypto. M0's co-founder and CEO, Luca Prosperi, did not disclose the company's valuation. The funding round, which included equity and locked cryptocurrency reserves, brings M0's total fundraising to nearly $100 million. M0 is developing a network to facilitate stablecoin issuers in deploying their tokens without the need to transfer assets across blockchains like Ethereum or Solana. The startup aims to attract numerous stablecoin issuers to its platform, including MetaMask, which has partnered with M0 to launch its stablecoin.