The issuer of yield-stable coin USDM, Mountain Protocol, recently announced that they have successfully obtained formal approval from the Bermuda Financial Services Authority. This landmark event signifies a significant advancement in Mountain Protocol's compliance journey. Prior to this, Mountain Protocol had completed an $8 million Series A funding round in June, led by Multicoin Capital. The acquisition of formal approval means that Mountain Protocol will be able to provide its stablecoin services globally while meeting stringent regulatory requirements. Like Coinbase, Circle, HashKey, and Zero Hash, Mountain Protocol has now become one of the companies holding such licenses, further enhancing its position and credibility in the stablecoin market.