Stablecoin project Reflect Money completes a seed round of $3.75 million, a16z CSX participating in investment

PANews reported on September 3 that according to Blockworks, stablecoin project Reflect Money announced that it has completed a US$3.75 million seed round led by a16z crypto CSX accelerator, with Solana Ventures, Equilibrium, BigBrain Holdings and Colosseum participating in the investment. The new fund will be used to build a "software-as-stable currency" infrastructure that allows any application to issue interest-generating dollars without locking in funds or complex operations. According to reports, the Reflect protocol tokenize the on-chain DeFi strategy, and then converts the deposited USDC balance into an interest-producing "USDC+", while maintaining full liquidity. Stablecoins will be in a non-custodial mode and can be minted and redeemed on demand at any time. Reflect is scheduled to be online on the main network in early September, first supporting USDC on Solana.