According to BlockBeats, stablecoin startup Boundary Labs announced on May 12 that it is preparing to launch USBD, an institutional-grade stablecoin, and has completed $2 million in seed-stage funding. The round was led by Galaxy Digital’s Galaxy Ventures, with participation from First Block Capital and BlackWood. Boundary Labs was founded by Matthew Mezger, former executive at Deutsche Bank and Digital Currency Group.
USBD will be deployed on Ethereum and features on-chain verification of reserves, net asset value (NAV), and protocol status to reduce reliance on off-chain audits. The stablecoin employs over-collateralization and hedging strategies to mitigate market volatility. The team plans to launch mainnet in early summer 2026.
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