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Stablecoin protocol USD.AI has completed a $13 million Series A funding round, led by Framework Ventures.
BlockBeats News, August 14th, according to CoinDesk, USD.AI, a stablecoin protocol providing credit for AI, has completed a $13 million Series A financing round. The round was led by Framework Ventures, with participation from Bullish, Dragonfly, Arbitrum, and others. USD.AI, developed by Permian Labs, uses Graphics Processing Unit (GPU) hardware as collateral to lend to AI companies. The on-chain system includes the USD-pegged token USDai and an income-generating computing asset-backed yield token called sUSDai. During a private testing phase, USD.AI has already received $50 million in deposits and plans to publicly launch an ICO and a game-based distribution model.
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