What Mento Labs does

Mento Labs is the development company behind the Mento decentralized stablecoin platform, an EVM-compatible protocol built on the Celo network that issues and manages multi-currency stable assets pegged to real-world fiat currencies. The platform supports 15 live stablecoins spanning major reserve currencies (USD, EUR, JPY, GBP, CHF) and emerging-market currencies (BRL, KES, PHP, COP, XOF, NGN, ZAR, AUD, CAD, GHS), backed by an over-collateralized crypto reserve operating at a 3:1 ratio with onchain transparency and roughly $150M+ in assets. Core products include the Mento Stablecoins suite, the Mento Asset Exchange for onchain FX swaps, the Mento Reserve system, and the MENTO governance token, with usage reported at 12M+ users across 140+ countries, $18.5B in 2025 trading volume, and 277M transactions in 2025.

The company monetizes primarily through transaction (swap) fees on the Mento Asset Exchange, operates a product-led and community-led go-to-market model via the Mento App, partner exchanges, integrated wallets, and the Opera/MiniPay distribution channel (4.8M MiniPay users, 320M+ Opera MAU), and targets three primary customer segments: traders (onchain FX and liquidity), businesses (cross-border payments and remittances), and individuals in emerging markets (local payments and stable savings). Mento Labs has executed a single $10M seed round in October 2024 led by crypto-native investors (HashKey Capital, T-Capital, No Limit Holdings, Flori Ventures, Verda Ventures, w3.fund) and recently launched Mento V3 and a Monad deployment to support cross-chain FX. The legal entity, Mento Labs LLC, also operates ForgeFit, an AI-powered consumer fitness coaching app launched in February 2026 that is unrelated to the core stablecoin business.

Name

Mento Labs

Legal name

Mento Labs LLC

Website

https://mentolabs.xyz

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

11–50 employees

Short description

Mento Labs builds the Mento decentralized multi-currency stablecoin platform on Celo, offering 15 stablecoins (major and emerging-market currencies) backed by an over-collateralized crypto reserve, with onchain FX swaps, cross-border payments, and Opera/MiniPay distribution serving traders, businesses, and individuals across 140+ countries.

Ownership category

akta.pro rank

Product category

Decentralized Stablecoin Infrastructure

NAICS

Securities and Commodity Exchanges (523210), Securities and Commodity Contracts Intermediation and Brokerage (5231), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Commodity Contracts Brokers & Dealers (6221), Finance Services (6199)

akta.pro primary industry

Stablecoin Protocols (Decentralized) (FSADAMAD)

akta.pro secondary industries

Cross-Chain Bridging & Interoperability for Stablecoins (FSADADAH), Crypto Payments & Stablecoin Settlement Platforms (BPAMAFAL), Digital Asset/Crypto Trade Execution Platforms (FSAFANAO), Decentralized Exchanges (DEX) & AMMs (FSADAMAB)

Keywords

• Multi-currency stablecoins
• Onchain FX trading
• Decentralized exchange infrastructure
• Cross-border stablecoin payments
• Over-collateralized crypto reserves

Headquarters

HQ city

Berlin

HQ country

Germany

HQ region

Europe

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales

Revenue model

1. Onchain FX Trading Fees: Revenue generated from swap fees on the Mento Asset Exchange when users trade between stablecoins. Platform facilitates 24/7 trading with real-world FX rates.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Mento Labs operates a decentralized, EVM-compatible multi-currency stablecoin platform built on the Celo network, offering 15+ stablecoins (USDm, EURm, BRLm, KESm, PHPm, COPm, XOFm, NGNm, JPYm, CHFm, ZARm, GBPm, AUDm, CADm, GHSm) backed by an over-collateralized crypto reserve (3:1 ratio) with onchain transparency. The platform includes a Mento Asset Exchange for 24/7 low-slippage FX swaps, sub-second settlement infrastructure for cross-border payments, and community governance via the MENTO token, enabling traders, businesses, and individuals in 140+ countries to conduct cross-currency transactions and DeFi integration.

Product overview

Mento Labs operates a decentralized multi-currency stablecoin platform (Mento) built on the Celo network, consisting of four core components: Mento Stablecoins (15+ decentralized stablecoins including USD, EUR, and local currencies), the Mento Asset Exchange (for onchain FX swaps), the Mento Reserve (overcollateralized crypto-backed reserve system with 3:1 ratio), and MENTO Token (governance). The platform enables traders, businesses, and individuals to conduct cross-currency transactions, cross-border payments, and DeFi integration across 140+ countries. Additionally, Mento Labs LLC launched ForgeFit, an AI-powered fitness coaching application.

Differentiator

Problem solved

Functional benefit

Brands

• Mento Asset Exchange: Decentralized exchange for swapping between stablecoins with real-time FX rates and 24/7 trading.

Products and services

• Mento Stablecoins Decentralized multi-currency stablecoin platform offering 15+ stablecoins (USDm, EURm, BRLm, KESm, PHPm, COPm, XOFm, NGNm, JPYm, CHFm, ZARm, GBPm, AUDm, CADm, GHSm) backed by crypto reserves, enabling onchain FX, cross-border payments, and DeFi integration across 140+ countries.
• Mento Asset Exchange Decentralized exchange infrastructure enabling instant swaps between stablecoins with real-world FX rates, 24/7 low-slippage trading across all Mento currency pairs.
• Mento Reserve Onchain reserve system maintaining 3:1 collateralization ratio with transparent, verifiable crypto asset backing exceeding $150 million, ensuring stability and price peg reliability for all Mento stablecoins.
• Mento V3 Onchain FX platform version built to scale across chains, featuring cross-chain interoperability and expanded infrastructure capabilities.
• Mento on Monad Expansion of the Mento FX platform to the Monad blockchain, bringing stablecoin FX markets to a high-performance Layer 1 chain.
• ForgeFit AI-powered fitness coaching app offering personalized training, nutrition, hydration, and sleep coaching in 11 languages, generating 52-week personalized workout programs across 60+ user segments with conversational AI coach and smart food recognition, priced at $3.99/month.

Quantifiable outcome

• $18.5 billion trading volume processed in 2025
• +2 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

AI capability6 records

Feature5 records

Partnerships

Two partnerships are on record, tiered core.

• Opera (MiniPay)coreStrategic or Co-development PartnerStrategic partnership through MiniPay infrastructure enabling stablecoin-powered financial solutions. Opera provides 320+ million monthly active users access to Mento stablecoins through the MiniPay Fund ($40M) in partnership with Verda Ventures.
• Celo FoundationcoreTechnology or IntegrationCelo Foundation provides technical expertise and ecosystem support for Mento's decentralized stablecoin platform built on the Celo network.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Sky (formerly MakerDAO): Sky/MakerDAO issues DAI, the most established decentralized, crypto-collateralized stablecoin protocol. Directly comparable as a decentralized stablecoin issuance platform with onchain governance, over-collateralized reserves, and multi-collateral architecture—Mento is differentiated by its multi-currency approach versus DAI's USD focus.
• Frax Finance: Frax is a decentralized stablecoin protocol (FRAX) with a fractional-algorithmic + collateralized reserve model and a Curve-based AMM. Comparable as a DeFi-native multi-stablecoin issuer and onchain FX venue, though Mento is purely over-collateralized and emphasizes emerging-market currencies.
• Reserve Protocol: Reserve Protocol enables creation of asset-backed, decentralized stablecoins (RSV, eUSD, etc.) governed by onchain RSR stakers. Directly comparable as a multi-stablecoin issuance framework with reserve transparency, and like Mento it pursues real-world currency coverage via community-driven tokenized assets.
• Curve Finance: Curve is the dominant DEX for stablecoin-to-stablecoin swaps with low slippage and concentrated liquidity pools. Mento Asset Exchange directly competes with Curve as an onchain FX venue for stable pairs, though Curve is infrastructure-agnostic while Mento is issuer-and-venue combined.

Broad incumbents

• Ondo Finance: Ondo issues tokenized yield-bearing products (OUSG, OUSG+) and USDY, bridging traditional Treasuries with onchain rails. Comparable as a tokenization-focused issuer expanding into multi-currency/stablecoin yield, though Ondo is centralized, US-Treasury-backed, and institution-oriented versus Mento's decentralized, crypto-backed, EM focus.
• Circle (USDC): Circle issues USDC, the largest regulated, USD-backed stablecoin, with deep liquidity across all major chains and exchanges. While Circle is centralized and USD-only, it is the dominant competitor for onchain USD liquidity that underpins most of Mento's USDm pair volume.

Emerging players

• Angle Protocol: Angle is a decentralized stablecoin protocol issuing agEUR (Euro stablecoin) with over-collateralized and synthetic variants. Directly comparable as a DeFi-native multi-currency stablecoin issuer, with strong EU market overlap and similar onchain governance via ANGLE token.
• Stargate Finance: Stargate is a cross-chain liquidity transport protocol enabling native-asset transfers between chains via LayerZero. Comparable as cross-chain infrastructure for stable assets; Mento uses Wormhole for similar cross-chain stablecoin movement, positioning both as interoperability layers for onchain value.
• Agora Finance: Agora issues AUSD, a fully backed, regulated stablecoin, and partners with protocols like Mento for reserve diversification. Comparable as a stablecoin issuer integrated with Mento's reserve, but operates more as a centralized issuer while Mento is decentralized.

Others

• Celo (Native Stablecoins): Celo is the underlying L1 blockchain where Mento is deployed and the Celo Foundation is a core technical partner. Highly relevant ecosystem participant; Mento's stablecoin infrastructure is a primary onchain FX application on Celo, making Celo both platform and direct stakeholder.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/MentoLabs
• LinkedInlinkedin.com/company/mento-labs

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds1 record

Investors6 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mento Labs