Risk investors have poured almost $ 100 million in new Stablecoin companies, supporting a new programmable money infrastructure.
M0, a Swiss -based platform that allows developers to broadcast personalized stablecoins, announced On Thursday an increase in the B $ 40 million led by Polychain Capital and Ribbit Capital. Founded in 2023, the company has been associated with projects that include Metamask and Playtron to integrate its infrastructure into consumer -oriented applications.
Another increase in Stablecoin infrastructure came from Rain, a US startup. Uu. Developing tools for banks to issue regulated stables. The company insured $ 58 million in a B series funds led by Sapphire Ventures, with support of Dragonfly, Galaxy Ventures and Samsung Next, which raises its total financing to $ 88.5 million.
The ads occurred when the Stablecoin market capitalization reached a record of $ 280 billion on Thursday, according to data from Mandiler.
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Different paths to programmable money
Financing rounds underline the renewed interest of investors in “programmable money” (PM), a digital currency with integrated rules that dictate how it can be used. Unlike traditional subsidies or coupons, these conditions are applied automatically through blockchains and intelligent contracts by emitters. A common analogy are food coupons limited to groceries.
While all stablecoins are technically programmable since they are executed in blockchains, most function as simple payment tokens. What distinguishes M0 and Rain services is that programability is built directly in its design.
M0 provides rails to issue specific stablcoins of the application with integrated rules for liquidity, access and use. One of its customers, Playtron, directly integrated a “dollar” with M0 motor into its hand game system.
The rain focuses on the flow of funds, which allows real -time payrolls and compatible in more than 100 jurisdictions through its association with Toku. It has also expanded to Solana, Tron and Stellar to admit programmable cards and expenditure programs in multiple chains.
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Proof of governments and pm startups
The programmable money has evolved for some time, and M0 and Rain are not alone in the search.
In July 2024, Kazakhstan launched a pilot program using its digital CBDC Tenge to finance a rail link to China. The “marked” or programmable token was scheduled to disburse the payment only when the designated milestones were met, with the aim of guaranteeing greater transparency and responsibility in the delivery of state infrastructure.
In October 2024, the National Bank of Kazakhstan made another programability pilot that shows that VAT reimbursements could be processed much more efficiently, reducing the waiting time from 70–75 days to 10-15 days by automating eligibility controls.
In May, the monetary authority of the Digital Rupia pilot of India expanded to include characteristics such as programability and out -of -line capacities, aimed at improving accessibility and adaptation of payment flows.
https://www.youtube.com/watch?v=RY9MI57PBJS
This use of programmable money by governments has not been without criticism. Financial analyst Susie Violet Ward, co -founder and executive director of The Think Tank Bitcoin Policy UK, warned the Co -Intelegraph Daily X Space chain reaction on August 21 that CBCD could be equivalent to the “Money Weapon in its purest form.”
But experimentation has not been limited to governments. Private sector projects are also pushing digital money for a variety of use cases.
In June 2024, Circle introduced programmable wallets and functionality of the gas station in Solana, allowing transactions based on the USDC to activate autonomous intelligent contracts or automatically administer transaction rates.
More recently, in July 2025, the Blockchain infrastructure startup debuted a programmable settlement layer for global trade. The platform links Stablecoin payments with the results of the real world, verified by cryptographic tests, which allows automated and conditional payments in commercial scenarios.
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