Standard Money, a stablecoin developer, completed an $8 million funding round led by Yzi Labs.

Techub News, BNB Chain-based algorithmic stablecoin USDsd developer Standard Money has raised $8 million in a funding round led by Yzi Labs, with participation from Gate.io, Crypto com, and Animoca Brands. USDsd is a yield-seeking algorithmic stablecoin designed with reference to Tether's USDT, the world's largest stablecoin by market capitalization. The funds will support Standard Money's mainnet deployment and expand its liquidity partnerships and global operations. Algorithmic stablecoins are a category of tokens that maintain pegs to target assets through smart contracts and economic incentive mechanisms, thereby managing circulating supply.