Stablecoin Developer Standard Money Raises $8M to Support Mainnet Rollout

Standard Money, the developer behind the BNB Chain-based stablecoin USDsd, has successfully raised $8 million in a strategic investment round. The funding was led by Yzi Labs, with participation from major crypto entities including Gate.io, Crypto.com, and Animoca Brands. The raised capital is earmarked to support the stablecoin's upcoming mainnet rollout, expand its liquidity partnerships, and grow its global operations. USDsd is described as a yield-seeking algorithmic stablecoin based on Tether's USDT. While algorithmic stablecoins often draw comparisons to the 2022 Terra-Luna collapse, the backing from significant digital asset heavyweights suggests a renewed interest in this token concept.

(Source：CoinDesk)