Mento Protocol Deploys Decentralized FX Infrastructure on Polygon
Mento Protocol has launched its decentralized FX infrastructure on Polygon, enabling predictable on-chain FX liquidity between USD-denominated and non-USD-denominated stablecoins. The launch includes the first FX trading pair, USDm/EURm, which is supported by day-one partner Capa.
The Mento Protocol processed $18.5 billion in trading volume last year and aims to make non-USD stablecoins usable across markets with its FX infrastructure. Polygon has become a leading network for local-currency stablecoin markets, with over $11.1 billion in lifetime non-USD stablecoin transfer volume.
Bogdan-Radu Dumitru, CEO at Mento Labs, said the company's mission is to make non-USD stablecoins usable across markets by providing the FX infrastructure that lets them move reliably.