Stablecoin developer Bima Labs raised $2.25 million in a seed round led by Portal Ventures. Draper Goren Blockchain, Sats Ventures, Luxor Technology, CoreDAO and Halo Capital participated. Angel investors also participated in the round, including Ankr's Ryan Fang, Chorus One's Brian Crain, Sei Labs' Jeffrey Feng and Berachain's Smokey. It is reported that Bima has developed USBD, a bitcoin-backed stablecoin that can be minted by providing bitcoin liquidity pledge and re-pledge tokens as collateral. Bima said it will accept collateral from multiple blockchains, including Bitcoin, the Bitcoin Scaling Network, the Ethereum Virtual Machine (EVM) compatible network, and Solana.