Developer Standard Money, known for its stable computing capabilities, has raised $8 million in funding, led by Yzi Labs.
Standard Money, the developer of the algorithmic stablecoin USDsd based on BNBChain, announced the completion of an $8 million financing round. This round of strategic investment was led by YziLabs, with participation from Gate.io, Cryptocom, and Animoca Brands. USDsd is an algorithmic stablecoin that aims for profit, with its design inspired by the largest stablecoin by market capitalization, Tether's USDT. The funds raised in this round will be used to support the mainnet deployment of StandardMoney, as well as to expand its liquidity partners and global operations. Algorithmic stablecoins are a type of token that maintains a peg to a target asset through smart contracts and economic incentive mechanisms, in order to manage circulation supply.
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