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Stablecoin Developer Standard Money Completes $8M Funding Round, Lead by Yzi Labs
BlockBeats News, November 3rd, Standard Money, the developer of the USDsd algorithmic stablecoin based on the BNB Chain, announced the completion of an $8 million funding round. This strategic round was led by Yzi Labs, with participation from Gate.io, Crypto.com, and Animoca Brands.
USDsd is a yield-maximizing algorithmic stablecoin designed with inspiration from Tether's USDT, the world's largest stablecoin by market capitalization. The funds raised in this round will be used to support Standard Money's mainnet deployment and expand its liquidity partnerships and global operations. Algorithmic stablecoins are a type of token that maintains a peg to a target asset through smart contracts and economic incentives, managing the circulating supply accordingly.
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