Bullish Provides $100 Million Debt Facility to USD.AI

Bullish provided a $100 million stablecoin-based debt facility to USD.AI to finance the expansion of AI infrastructure. This liquidity facility allows USD.AI to issue non-recourse loans to AI infrastructure operators, using high-performance computing assets as collateral.

To support the facility, Bullish is onboarding sUSDai across multiple trading pairs on its exchange and launching a dedicated market-making program. These measures aim to improve price discovery and secondary liquidity for GPU-based debt. The two organizations are also expanding a joint research initiative to optimize capital formation models for the AI capital expenditure sector, connecting on-chain liquidity with the demand for AI compute.

David Choi, CEO of Permian Labs, stated that the infrastructure will help USD.AI finance the AI buildout while creating more transparent markets for compute-backed credit. Thomas Cowan, Head of Tokenization at Bullish, noted that the on-chain transparency of USD.AI allowed for institutional diligence in underwriting the facility.