Stablecoin Project Reflect Money Completes a $3.75 million seed round of financing, a16z CSX leads investment

Odaily Planet Daily News Stablecoin Project Reflect Money announced the completion of a $3.75 million seed round of financing led by a 16z crypto CSX accelerator, with Solana Ventures, Equilibrium, BigBrain Holdings and Colosseum. The project plans to build a "software is stablecoin" infrastructure so that applications can issue interest-producing USD without locking in funds. The Reflect protocol converts deposited USDC into an interest-producing “USDC+” by tokenizing on-chain DeFi strategies while maintaining liquidity. The stablecoin is in a non-custodial mode and can be minted or redeemed at any time. Reflect will be launched on the main network in early September, with the first batch of support for USDC on Solana.