Boundary Raises $2M for USBD Institutional Stablecoin With Galaxy Ventures

According to The Block, stablecoin startup Boundary Labs announced Monday it has raised $2 million in pre-seed funding led by Galaxy Ventures to develop USBD, an institutional stablecoin focused on onchain reserve verification. First Block Capital and BlackWood also participated in the round, which closed in December 2025.

Boundary's USBD is designed for daily onchain verification of reserves and net asset value, with explicit over-collateralization and delta-neutral hedging. The protocol will launch on Ethereum mainnet in early summer 2026, targeting $100 million in total value locked by year-end. Institutional participants will access the protocol through a dedicated application with KYC/KYB workflows. The platform will also offer sUSBD, a staked token enabling eligible institutions to earn protocol income from delta-neutral DeFi strategies.