BlockBeats news, on May 12, Boundary Labs, a stablecoin startup led by Galaxy Ventures, a subsidiary of Galaxy Digital, announced it is preparing to launch USBD, a stablecoin designed for institutional users, and has completed a $2 million pre-seed funding round.
According to reports, this funding round also attracted participation from institutions such as First Block Capital and BlackWood. Boundary Labs was founded by Matthew Mezger, former executive of Deutsche Bank and Digital Currency Group.
USBD will be deployed on the Ethereum network, promoting the concept of a "verifiable stablecoin" by continuously validating reserves, net asset value (NAV), and protocol status on-chain, aiming to reduce reliance on off-chain audits and trust mechanisms typical of traditional stablecoins.
The project team states that USBD is designed with an over-collateralization and hedging strategy to reduce market volatility risk, shifting the stablecoin infrastructure from a "trust-based" model to a "verifiable financial system."
In addition, Boundary plans to launch the staked token sUSBD to distribute protocol earnings under Delta-neutral DeFi strategies, although USBD itself does not generate yields.
The team stated that the protocol is primarily targeted at asset management firms, hedge funds, and family offices, with plans to launch the mainnet in early summer 2026.