USD.AI

USD.AI is a stablecoin protocol developed by Permian Labs that provides financing to artificial intelligence companies by using their graphics processing unit (GPU) hardware as collateral. This approach allows AI firms, which rely on powerful GPUs for their operations, to leverage their existing computational infrastructure to secure capital with approval times reportedly over 90% faster than traditional lenders.

The on-chain system features two main components: USDai, a token pegged to the U.S. dollar, and sUSDai, a yield-bearing token backed by income-generating computational assets. Borrowers post their GPU hardware as collateral, which is tokenized on-chain using a standard called CALIBER that verifies ownership and insurance. This structure aims to provide a stable, decentralized, and rapid credit solution tailored for the capital-intensive AI industry. The protocol operates on the Arbitrum blockchain to ensure low transaction fees and access to deep liquidity pools.

The company was founded by David Choi and Conor Moore, who previously worked together at Deutsche Bank. They identified a gap in the market for financing illiquid assets like high-demand hardware on crypto rails, which led to the creation of USD.AI. In August 2025, USD.AI announced it had raised $13 million in a Series A funding round led by Framework Ventures, with participation from notable investors including Dragonfly, Bullish, and Arbitrum. Prior to its public launch, the protocol secured $50 million in deposits during its private beta phase.

Keywords: GPU-backed loans, stablecoin protocol, AI financing, decentralized finance, crypto lending, asset-backed lending, Arbitrum, real-world assets, RWA, Permian Labs, USDai, on-chain collateral, compute financing, David Choi, Conor Moore