Boundary Labs today announced that it has closed a $2 million pre-seed funding round to launch a new stablecoin, designed for institutions, that will provide onchain verification of its backing reserves. Exclusively for financial and blockchain institutions, the USBD stablecoin is engineered from the ground up for pre-approved participants who require “a new standard of onchain verifiability,” Boundary labs said in a statement. Press play to hear a narrated version of this story, presented by AudioHopper. Galaxy Ventures led the funding round, with participation by FirstBlock Capital and BlockWood, among others. “‘Trust but verify’ is a phrase core to the onchain industry as it champions a critical principle where institutions and…
Blockchain and Cryptocurrency: People, Culture and Tech