Stable developer Standard Money has completed a $8 million financing round, led by Yzi Labs.

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On November 3, Standard Money, the developer of the algorithmic stablecoin USDsd based on BNB Chain, announced the completion of an $8 million financing round. This strategic investment was led by Yzi Labs, with participation from Gate, Crypto.com, and Animoca Brands. USDsd is an algorithmic stablecoin aimed at generating yields, designed with reference to Tether's USDT, the largest stablecoin by market capitalization globally. The funds from this financing round will be used to support Standard Money's Mainnet deployment and to expand its liquidity partners and global operations. Algorithmic stablecoins are a type of token that maintains a peg to the target asset through smart contracts and economic incentives, thereby managing the circulating supply.

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