USD.AI Developer Permian Labs Receives Investment from Coinbase Ventures

Foresight News reports that the stablecoin protocol USD.AI, which provides credit for AI, has announced that Coinbase Ventures has invested in Permian Labs. Permian Labs develops and maintains the USD.AI protocol, aiming to facilitate secure on-chain lending operations backed by verifiable productive assets. USD.AI also issues the stablecoin USDai and the yield-bearing sUSDai to support the protocol. Permian Labs, headquartered in New York, is dedicated to an on-chain credit protocol for financing productive computational assets. The team builds legal, technical, and risk foundations to support operations for collateralizing, initiating, and servicing GPU-backed credit positions through verifiable on-chain mechanisms.