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Bullish backs USD.AI with $100 million stablecoin facility for GPU loans
Bullish plans to list USD.AI's sUSDai on multiple trading pairs through Bullish Exchange, creating a secondary market for GPU-backed debt exposure.
Bullish is extending a $100 million stablecoin facility to USD.AI to finance loans secured against GPUs and other high performance computing assets, according to CoinDesk.
The financing is designed to bring on chain capital into what the companies describe as a capital intensive AI infrastructure credit market, using tokenization to connect on chain liquidity with demand for compute financing. USD.AI is a stablecoin protocol intended to link AI infrastructure financing with on chain capital.
CoinDesk also reports that Bullish Exchange plans to list USD.AI’s sUSDai across multiple trading pairs, which would create a secondary market for exposure to GPU backed debt. The Defiant adds that USD.AI’s API reported $265 million in loan reserves and $491 million in total value locked.
USD.AI is backed by Permian Labs, and CoinDesk quotes David Choi, USD.AI CEO, saying that compute is becoming a credit market in its own right, while the facility should help fund more AI buildout. CoinDesk reports crypto assets worth over $225 million were locked in the USD.AI protocol as of publication.