M^0 has announced its expansion to the Solana blockchain. This initiative empowers developers to create feature-rich, branded digital dollars on one of the industry’s most scalable and rapidly growing platforms.
M^0 has established itself as a key player in the stablecoin sector by providing infrastructure that allows developers to build customizable, interoperable stablecoins swiftly. By extending its services to Solana, M^0 aims to offer builders a robust platform characterized by high throughput and low transaction fees.
“Solana’s unmatched speed, scalability, and developer ecosystem make it a prime environment for stablecoin innovation, says Joao Reginatto, Chief Strategy Officer at M^0.
“By bringing M^0’s platform to Solana, we’re empowering builders to create stablecoins that are not only interoperable, liquid, and tailored to their use cases, but that can also perform at any scale,” Joao added.
KAST: Pioneering Stablecoin-Powered Neobanking
Singapore-based fintech platform KAST will be the first to leverage M^0’s stablecoin infrastructure on Solana. KAST aims to deliver a neobank-style experience by offering payment cards and USD-denominated accounts to users in over 150 countries. The platform plans to utilize M^0 to develop two digital dollars, initially for tokenizing deposits and later for payments and savings use cases.
In December 2024, KAST secured $10 million in seed funding, co-led by HongShan Capital Group (HSG) and Peak XV Partners. This funding round also saw participation from high-profile angels and partners from DST Global and Goodwater Capital, underscoring the growing confidence in stablecoin-based financial solutions .
“KAST is building the world’s best banking alternative, powered entirely by stablecoins. By issuing our own stablecoin, we ensure full transparency, with all customer deposits represented on-chain,” KAST CEO, Raagulan Pathy, mentioned in a release shared with AlexaBlockchain.
“Solana was the clear choice for deployment, given our strong existing partnership and its advantages in speed and low fees. M^0 enables us to bring this vision to life, allowing us to rapidly configure the KAST Dollar, and we believe M^0 is the partner most aligned to our long-term vision,” Raagulan added.
Solana’s Ascendancy in the Blockchain Ecosystem
Solana has been experiencing remarkable growth, solidifying its position as a leading blockchain network. According to Electric Capital’s 2024 Developer Report, Solana attracted 7,625 new developers, surpassing Ethereum for the first time since 2016. This surge reflects an 83% year-over-year increase, highlighting Solana’s appeal to the developer community .
Furthermore, in the first quarter of 2025, the total stablecoin value on the Solana network surged by 146%, reaching $12.5 billion. This rapid climb has positioned Solana as the fifth-fastest growing blockchain network in terms of stablecoin supply .
M^0’s Growing Influence in the Stablecoin Market
M^0’s expansion into Solana follows a period of accelerated growth for the platform. The stablecoin platform has surpassed $160 million in circulating supply, demonstrating its increasing prominence in the digital currency space. M^0 has previously empowered products such as Noble and Usual to successfully launch their own custom stablecoins, further solidifying its position as a leading provider of programmable stablecoin infrastructure.
Notably, in March 2025, Noble launched the Noble Dollar ($USDN), a yield-bearing, composable stablecoin built for the modular and interchain ecosystem. This launch was powered by M^0’s infrastructure, showcasing the platform’s capability to support innovative stablecoin solutions .
By combining M^0’s expertise in stablecoin infrastructure with Solana’s high-performance blockchain capabilities, developers are now equipped to create stablecoins that are not only customizable and interoperable but also capable of operating at scale.
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Image Credits: M^0