Venture investors have invested nearly $100 million into stablecoin startups, focusing on new programmable money infrastructure. M0, a Switzerland-based platform, raised $40 million in a Series B round led by Polychain Capital and Ribbit Capital. Founded in 2023, M0 allows developers to issue custom stablecoins, partnering with projects like MetaMask and Playtron. US startup Rain raised $58 million for its tools aimed at helping banks issue regulated stablecoins, bringing its total funding to $88.5 million. The stablecoin market capitalization hit a record $280 billion. Programmable money, which automates conditions for usage through blockchains, is gaining renewed interest. M0 offers application-specific stablecoins with embedded rules, while Rain focuses on enabling compliant payrolls across 100 jurisdictions. Additionally, various governments and private-sector projects are exploring programmability in digital currency. Recent pilot programs in Kazakhstan and other initiatives show the growing trend, despite criticism regarding the potential negative impact of central bank digital currencies (CBDCs). In total, this underscores a significant interest and investment in programmable money solutions.

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