Stablecoin protocol USD.AI completes $13 million Series A funding round, led by Framework Ventures

According to Odaily Planet Daily, USD.AI, a stablecoin protocol providing credit for AI, has completed a $13 million Series A funding round led by Framework Ventures, with participation from Bullish, Dragonfly, and Arbitrum. Developed by Permian Labs, USD.AI provides loans to AI companies using graphics processing unit (GPU) hardware as collateral. The on-chain system consists of USDai, a token pegged to the US dollar, and sUSDai, a yield-generating token backed by revenue-generating computing assets. USD.AI has secured $50 million in deposits during private testing and plans to publicly launch an ICO and a game-based distribution model. ( CoinDesk )