Bima Labs completed a $2.25 million seed round financing, led by Portal Ventures.

Stablecoin developer Bima Labs raised $2.25 million in seed funding, led by $Portal Ventures. Other investors include Draper Goren Blockchain, Sats Ventures, Luxor Technology, CoreDAO, Halo Capital, and individual investors such as Ryan Fang from Ankr, Brian Crain from Chorus One, Jeffrey Feng from Sei Labs, and Smokey from Berachain. The USBD developed by Bima Labs is a stablecoin backed by Bitcoin, allowing users to mint by providing Bitcoin liquidity as collateral and re-collateralizing tokens. Bima Labs plans to accept collateral from multiple blockchains, including Bitcoin, Bitcoin scaling networks, Ethereum Virtual Machine (EVM) compatible networks, and Solana.