Stables Labs Secures $45 Million in Funding on November 29, 2024

According to industry sources, Stables Labs completed a $45 million funding round on November 29, 2024. This round saw participation from NGC Ventures, UOB Venture, Generative Ventures, and BAI Capital. Following this investment, Stables Labs is valued at $275 million.Stables Labs is a next-generation stablecoin infrastructure provider, dedicated to building a decentralized and bankless ecosystem for stablecoin issuance. Its flagship product, USDX (usdx.money), is a synthetic dollar stablecoin designed for the crypto ecosystem. In the current cryptocurrency market, stablecoins serve as critical infrastructure and are playing an increasingly vital role. With the rapid development of decentralized finance (DeFi), demand for stable, secure, and decentralized stablecoins continues to grow. Stables Labs’ innovative solutions are expected to unlock new possibilities for the broader crypto ecosystem and drive the industry toward greater decentralization and inclusivity.The proceeds from this funding round will primarily be used for product development, technological innovation, and market expansion, further enhancing its stablecoin infrastructure. As an emerging player in the stablecoin sector, Stables Labs’ growth is set to positively impact the blockchain industry and foster the healthy development of the stablecoin ecosystem.