Bullish announced a $100 million stablecoin-based liquidity facility for USD.AI on Aug. 28, 2026, targeting middle-market AI infrastructure financing. The facility enables USD.AI to issue loans directly against high-performance computing assets, leveraging Bullish Exchange's institutional liquidity.
Bullish will integrate sUSDai across multiple trading pairs on its platform, backed by a dedicated market-making program to deepen secondary liquidity and establish price discovery for GPU-based debt.
Thomas Cowan, Head of Tokenization at Bullish, said the investment reflects conviction that "credible, well-structured real-world assets belong onchain." He added that USD.AI's on-chain transparency provided the visibility needed for institutional diligence.
David Choi, CEO of Permian Labs (USD.AI's developer), said Bullish's $100 million facility and institutional market infrastructure will help finance more of the AI buildout and create "dee more transparent markets for compute-backed credit."
Bullish and USD.AI are expanding their joint research initiative to optimize capital formation models for the AI CapEx sector, pairing Bullish's institutional market structure expertise with USD.AI's specialized GPU financing architecture.
