Express
Stablecoin Protocol USD.AI Completes $13 Million Series A Financing, Led by Framework Ventures
Summary: According to CoinDesk, stablecoin protocol USD.AI, which provides credit for AI, has completed a $13 million Series A financing round led by Framework Ventures, with participation from Bullish, Dragonfly, Arbitrum, and others. Developed by Permian Labs, USD.AI uses graphics processing unit (GPU) hardware as collateral to provide loans to artificial intelligence companies. The on-chain system ...
According to CoinDesk, stablecoin protocol USD.AI, which provides credit for AI, has completed a $13 million Series A financing round led by Framework Ventures, with participation from Bullish, Dragonfly, Arbitrum, and others. Developed by Permian Labs, USD.AI uses graphics processing unit (GPU) hardware as collateral to provide loans to artificial intelligence companies. The on-chain system includes the USDai token pegged to the US dollar and income-generating computational assets-backed token sUSDai. USD.AI has already received $50 million in deposits during its private testing phase and plans to publicly launch an ICO and a game-based distribution model.
Tags:
Link: Stablecoin Protocol USD.AI Completes $13 Million Series A Financing, Led by Framework Ventures [Copy]
