USD.AI developer Permian Labs receives investment from Coinbase Ventures

According to official news, the stablecoin protocol USD.AI, which provides credit for AI, announced that Coinbase Ventures has invested in Permian Labs.

Permian Labs develops and maintains the USD.AI protocol, aimed at facilitating secure on-chain lending operations backed by verifiable productive assets. USD.AI also issues the stablecoin USDai and the yield-bearing sUSDai, which support the protocol.

Permian Labs is headquartered in New York and is dedicated to financing on-chain credit protocols for productive computing assets. The team builds a legal, technical, and risk foundation to support the collateralization, initiation, and servicing of GPU-backed credit positions through verifiable on-chain mechanisms.