PANews reported on November 3 that, according to CoinDesk, Standard Money, the developer of the BNB Chain ecosystem stablecoin USDsd, has completed an $8 million strategic funding round, led by Yzi Labs, with participation from Gate.io, Crypto.com, and Animoca Brands, among others.

USDsd is reportedly a yield-seeking algorithmic stablecoin based on the stablecoin USDT. The funds raised will be used to support the Standard Money mainnet launch, expand its liquidity partnerships, and grow its global operations.