USD.AI developer Permian Labs receives investment from an exchange
ChainCatcher reported that the stablecoin protocol USD.AI, which provides credit for AI, announced that a certain exchange's Ventures has invested in Permian Labs.
Permian Labs develops and maintains the USD.AI protocol, aiming to facilitate secure on-chain lending operations collateralized by verifiable productive assets. USD.AI also issues the stablecoin USDai and the yield-bearing sUSDai, which support the protocol.
Headquartered in New York, Permian Labs is dedicated to on-chain credit protocols for financing productive computational assets. The team builds legal, technical, and risk foundations to support the collateralization, initiation, and servicing of GPU-backed credit positions through verifiable on-chain mechanisms.
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