Stablecoin project Reflect Money completes $3.75 million seed round, led by a16z CSX

According to Odaily Planet Daily, the stablecoin project Reflect Money announced the completion of a $3.75 million seed round of financing, led by CSX Accelerator under a16z crypto, with participation from Solana Ventures, Equilibrium, BigBrain Holdings, and Colosseum. The project plans to build a "software as stablecoin" infrastructure, allowing applications to issue interest-bearing US dollars without locking up funds. The Reflect protocol tokenizes on-chain DeFi strategies, converting deposited USDC into interest-bearing "USDC+" while maintaining liquidity. The stablecoin adopts a non-custodial model and users can mint or redeem it at any time. Reflect will launch its mainnet in early September, initially supporting USDC on Solana.