Stablecoin developer Bima Labs completes $2.25 million seed round led by Portal Ventures

Odaily News Stablecoin developer Bima Labs raised $2.25 million in a seed round led by Portal Ventures, with participation from Draper Goren Blockchain, Sats Ventures, Luxor Technology, CoreDAO, Halo Capital, Ankr's Ryan Fang, Chorus One's Brian Crain, Sei Labs' Jeffrey Feng, and Berachain's Smokey. It is reported that Bima has developed USBD, a stablecoin backed by Bitcoin that can be minted by providing Bitcoin liquidity pledge and re-pledge tokens as collateral. Bima said it will accept collateral from multiple blockchains, including Bitcoin, the Bitcoin Scaling Network, Ethereum Virtual Machine (EVM) compatible networks, and Solana.