Latest news with #MUSD
Yahoo
28-05-2025
- Business
- Yahoo
Bitcoin Platform Mezo Debuts Mainnet to Build Circular BTC Economy
Blockchain venture studio Thesis, which is backed by Pantera Capital and Hack VC, has debuted its Bitcoin layer-2 network Mezo's mainnet. Mezo is built to be Bitcoin finance platform that enables its users to unlock practical utility in BTC and thus become their own bank, according to an emailed announcement shared with CoinDesk. The project debuted its testnet last year following a $21 million fundraising round led by Pantera. Users can use their BTC as collateral to mint and spend Mezo's native stablecoin MUSD, this creating a circular economy powered by BTC. An ongoing barrier to wider bitcoin adoption is the reticence users have to sell or spend it, which may be out of concern for losing value tied up in their holdings. This, amongst many other reasons, can explain why bitcoin has yet to fully prove itself as a form of money beyond being a store of value. "Holders haven't had many options to actually use their bitcoin without giving it up," CEO of Thesis, Matt Luongo, said. "With [Mezo}, I can park my BTC, access a credit line and live my life. This is what being your own bank was always meant to look like. It finally lets HODLers have their cake and eat it too." Mezo has teamed up with numerous crypto platforms that provide use cases such as e-commerce store Bitrefill, which offers gifts cards for MUSD, and BTC finance app Fold (FLD), which offers a cashback debit card and provides bitcoin rewards.
Yahoo
17-04-2025
- Business
- Yahoo
ASSA ABLOY acquires Pedestal PRO in the US
STOCKHOLM, April 17, 2025 /PRNewswire/ -- ASSA ABLOY has acquired Pedestal PRO, a US manufacturer of access control pedestals, bollards, and innovative mounting solutions. "I am very pleased to welcome Pedestal PRO into the ASSA ABLOY Group. This acquisition delivers on our strategy to strengthen our position in mature markets through adding complementary products and solutions to our core business," says Nico Delvaux, President and CEO of ASSA ABLOY. "Pedestal PRO is an established innovator that seamlessly integrates design, architectural elements, and access control technology, and I am excited for them to be part of ASSA ABLOY," says Lucas Boselli, Executive Vice President of ASSA ABLOY and Head of the Americas Division. "Their product portfolio enhances our offering for electromechanical solutions and solidifies our position as a go-to partner for access control equipment manufacturers, system integrators, and security professionals." Pedestal PRO was founded in 2002 and has some 50 employees. The main office and factory are located in Lindon, Utah, USA. Sales for 2024 amounted to about MUSD 11 (approx. MSEK 120) with a good EBIT margin. The acquisition will be accretive to EPS from the start. For more information, please contact: Nico Delvaux, President and CEO, tel. no: +46 8 506 485 82Erik Pieder, CFO and Executive Vice President, tel. no: +46 8 506 485 72 Björn Tibell, Head of Investor Relations, tel. no: +46 70 275 67 68, e-mail: About ASSA ABLOY ASSA ABLOY is the global leader in access solutions. Every day we help people feel safe, secure and experience a more open world. We operate worldwide with 63,000 employees and sales of SEK 150 billion, with leading positions in areas such as efficient door openings, trusted identities and entrance automation. Our innovations enable safe, secure and convenient access to physical and digital places. This information was brought to you by Cision The following files are available for download: Press Release (PDF) Pedestal Pro image View original content:
