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Platform growth and blockchain adoption for diverse communities.
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2022
Deals · 12mo
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- Bima Labs
Participated · Seed · Jul 2024
Bima Labs is developing USBD, a universal stablecoin backed by restaked Bitcoin that is intended to be chain-agnostic. The platform lets users across Bitcoin L2s and side chains stake Bitcoin as collateral and restake corresponding liquid staking and staking tokens into a vault to mint USBD. USBD is designed for lending, borrowing, swapping, and as credit against staked Bitcoin, and operates across multiple blockchains. Collateral will be accepted from EVMs, Bitcoin L2s, Solana, STX, Runes, Ordinals, Arch Network, Bitcoin L1, and more. The company is led by CEO Siddarth Sridhar and plans to use new capital to expand operations and accelerate development. No operating metrics were disclosed in the article.