Stablecoin developer Bima Labs has 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.
Bima has developed USBD, a Bitcoin-backed stablecoin 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, Bitcoin Scaling Network, Ethereum Virtual Machine (EVM) compatible networks, and Solana. #crypto2023A
