TechFlow News — Bima Labs, a stablecoin developer, has secured $2.25 million in seed funding led by Portal Ventures, with participation from Draper Goren Blockchain, Sats Ventures, Luxor Technology, CoreDAO, Halo Capital, Ryan Fang of Ankr, Brian Crain of Chorus One, Jeffrey Feng of Sei Labs, and Smokey of Berachain.
Notably, Bima is developing USBD, a Bitcoin-backed stablecoin that can be minted by providing liquid staked and restaked Bitcoin tokens as collateral. Bima stated it will accept collateral from multiple blockchains, including Bitcoin, Bitcoin scaling networks, Ethereum Virtual Machine (EVM)-compatible networks, and Solana.
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