Standard Money, developer of the BNB Chain-based stablecoin USDsd, has raised $8 million from an array of crypto investment heavyweights. The strategic investment round was led by Yzi Labs and included participation from Gate.io, Crypto.com, and Animoca Brands, according to an emailed announcement shared with CoinDesk on Monday. USDsd is a yield-seeking algorithmic stablecoin based on the Tether's USDT, the world's largest stablecoin by market capitalization. The funds raised will support Standard Money ...

The Polkadot community has opened a vote on a proposal for pUSD, a native stablecoin backed entirely by DOT tokens, through a governance referendum currently underway on the network’s “Wish for Change” track. The proposal, detailed in RFC-155 and authored by Bryan Chen, would deploy the stablecoin on Polkadot Asset Hub using the Honzon protocol previously employed by Acala’s failed aUSD project. At the time of writing, Aye holds 74.62%, while Nay holds 25.40%, against an 80.40% approval threshold. Sourc ...