PANews reported on November 3rd that, according to CoinDesk, Standard Money, the developer of the BNB Chain ecosystem stablecoin USDsd, has completed an $8 million strategic funding round, led by Yzi Labs, with participation from Gate.io, Crypto.com, and Animoca Brands. Standard Money claims to have received investment from YZi Labs, but YZi Labs has denied this claim. YZi Labs stated that Standard Money is a renamed version of the Tranching protocol, a project in Binance Labs' Q3 incubation program, and that YZi Labs did not lead its strategic investment round.

USDsd is reportedly a yield-seeking algorithmic stablecoin based on the stablecoin USDT. The funds raised will be used to support the Standard Money mainnet launch, expand its liquidity partnerships, and grow its global operations.