PANews reported on November 17th that Permian Labs, the development team behind USD.AI, announced it has received investment from Coinbase Ventures, though the specific amount was not disclosed. USD.AI is a structured on-chain credit system that connects decentralized liquidity with real-world financing via GPU infrastructure that supports artificial intelligence.

Permian Labs is reportedly responsible for developing and maintaining the USD.AI protocol, which aims to facilitate on-chain secured lending operations using verifiable productive assets as collateral. USD.AI is also the issuer of the stablecoin USDai and the yield-generating sUSDai, both of which form the basis of the protocol.