M0 Foundation, a platform building infrastructure for crypto apps and protocols to create application-specific stablecoins, has raised $40 million in early funding to allow developers to deploy custom digital currencies. M0 aims to offer developers the opportunity to create their own applications using a stablecoin, without the need for a centralized issuer. The platform provides infrastructure that allows them to launch application-specific digital currencies. To do this, M0 separates stablecoin reserve management from programmability. When stablecoins are created, they must be backed by assets held by the issuer, such as U.S. dollars or government bonds, that support the stablecoins in circulation. This reserve acts as collateral, allowing users to redeem the stablecoin for the underlying asset and provides confidence in the coin’s stability. Using the platform, developers can do more than place their own apps on top of another stablecoin, Prosperi said. It allows them to create and manage their own digital money by giving them the building blocks to specialize according to their business and application needs.