M^0 is a decentralized money middleware protocol designed for the digital age. It allows multiple institutional actors to issue a fungible cryptodollar, leveraging best-in-class collateral such as short-term US treasuries. The protocol ensures security and transparency through independent, daily, on-chain validation of reserves. M^0 aims to democratize access to money issuance infrastructure, enabling institutions to mint cryptodollars while adhering to jurisdictional requirements and enhancing liquidity in demanding markets.