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Bullish provides USD.AI with a $100 million stablecoin debt facility
The facility is designed to finance GPU-backed lending, with loans secured by underlying GPU hardware rather than borrowers’ corporate assets.
Bullish, the institutional crypto exchange operator, has provided USD.AI with a $100 million stablecoin-based debt facility to finance loans secured by GPU infrastructure, the companies announced.
According to Cointelegraph, USD.AI will use the facility to lend to AI infrastructure operators, with collateral tied to the underlying GPU hardware rather than borrowers’ broader corporate assets.
Cointelegraph reports that Bullish plans to list USD.AI’s sUSDai across multiple trading pairs and support the token with a dedicated market making program to improve secondary liquidity and price discovery for GPU-backed debt.
The deal also adds to USD.AI’s GPU financing track record, including a $98.1 million loan backed by 2,304 Nvidia B300 GPUs and a $34 million loan backed by 768 Nvidia B200 GPUs that was fully funded earlier, Cointelegraph said.