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

Stablecoin developer Bima Labs has completed a $2.25 million seed round of financing led by $Portal Ventures. This round of financing also includes 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 minting through Bitcoin liquidity collateralization and re-collateralization of tokens. The company plans to accept collateral from multiple blockchains, including Bitcoin, Bitcoin scaling networks, Ethereum Virtual Machine (EVM) compatible networks, and Solana.