Standard Money Secures $8M to Advance USDsd Stablecoin Launch
According to Standard Money’s official statement, the $8 million round led by Yzi Labs will back USDsd’s mainnet rollout and expand liquidity partnerships globally on BNB Chain.
Standard Money, developer of the BNB Chain-based USDsd algorithmic stablecoin, announced an $8 million strategic investment round led by Yzi Labs, with Gate.io, Crypto.com, and Animoca Brands participating. As per the company’s official statement, the funds will be used for USDsd’s mainnet launch, expansion of liquidity partnerships, and growth in global operations. USDsd is a yield-seeking algorithmic stablecoin pegged to USDT, aiming to maintain its peg via smart contracts and economic incentives. The funding comes amid renewed interest in algorithmic stablecoins despite past failures like TerraUSD’s collapse in 2022.
- BNB Chain: A blockchain network developed by Binance that supports smart contracts and decentralized applications.
- Algorithmic Stablecoin: A cryptocurrency designed to maintain its peg to a reserve asset using smart contracts and economic incentives to manage supply.
- Mainnet: The fully operational version of a blockchain network where actual transactions occur and have real-world value.