The Mento development team, Mento Labs, has completed a $10 million financing round with participation from HashKey Capital and others. Mento Labs has also announced a stablecoin roadmap, planning to add three new local digital currencies.

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<p>According to Deep Tide TechFlow, on October 17, CoinDesk reported that the development team of the decentralized EVM platform Mento on the Celo network, Mento Labs, announced the completion of a $10 million funding round. This round of financing was supported by T-Capital, HashKey Capital, Richard Parsons, Flori Ventures, No Limit Holdings, Verda Ventures, and w3.fund. Mento Labs also announced a stablecoin roadmap, planning to add three new local digital currencies to its expanding decentralized stablecoin lineup: Philippine Peso (PUSO), Colombian Peso (cCOP), and Ghanaian Cedi (cGHS).</p>
<p>According to project documentation, the Mento stability protocol can be viewed as a mechanism for over-collateralized, decentralized, and transparent stable assets. The protocol utilizes crypto reserves, allowing users to adjust the supply of Mento stable assets according to demand changes. Users can exchange between Mento stable assets and reserved collateral assets through this protocol.</p>
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Mento Labs has completed a $10 million financing round and announced its stablecoin roadmap.