USD.AI Developer Permian Labs receives investment from Coinbase Ventures

Mars Finance reports that USD.AI, a stablecoin protocol providing credit for AI, has announced an investment from Coinbase Ventures in Permian Labs. Permian Labs develops and maintains the USD.AI protocol, which aims to facilitate secure on-chain lending operations secured by verifiable productive assets. USD.AI also issues the stablecoin USDai and the yield-generating sUSDai to underpin the protocol. Headquartered in New York, Permian Labs focuses on on-chain credit protocols that finance productive computing assets. The team builds the legal, technical, and risk foundations to support the operation of securing, originating, and servicing GPU-supported credit positions through verifiable on-chain mechanisms.