What Bima Labs does

Bima Labs is a financial services company developing USBD, a dollar-pegged stablecoin backed by Bitcoin and other blockchain-based collateral. Founded in 2024 and headquartered in San Mateo, California, the company operates an API-first platform designed to be chain-agnostic, enabling USBD to be minted and used across multiple blockchain networks for decentralized finance activities. Users stake Bitcoin (and potentially other on-chain assets) as collateral to mint USBD, with the product positioned to support cross-blockchain DeFi use cases without requiring conversion to fiat currency.

The company's technology stack centers on chain-agnostic stablecoin infrastructure, including multi-blockchain collateral management and programmable interfaces for collateral staking. Its sole disclosed product is USBD, with no additional products, patents, trademarks, or certifications recorded. There are no disclosed integrations with named wallets, DEXs, or custodians, and no compliance or regulatory milestones are documented.

Bima Labs' business model is based on transaction and transfer fees generated through USBD activity on the platform, though pricing is not publicly disclosed. The company completed a $2.25 million seed round in July 2024 led by Portal Ventures, with participation from Core DAO, Delta Blockchain Fund, Draper Goren Blockchain, Halo Capital, Luxor Technology, and Sats Ventures, earmarked for hiring and USBD development. The target customer segment is described horizontally as DeFi users and crypto participants; no named customers, ARR, or transaction volume data are available. The company is venture capital-backed, founder-controlled per available ownership commentary, and is privately held with no parent entity disclosed.

Name

Bima Labs

Legal name

Bima Labs

Website

https://bima.money

Company type

Private

Founded year

2024

Operating status

Operating

Headcount range

11–50 employees

Short description

Bima Labs, founded in 2024 and based in San Mateo, California, develops USBD, a chain-agnostic, Bitcoin-backed dollar-pegged stablecoin for DeFi users and crypto participants seeking cross-blockchain liquidity. Revenue is generated via stablecoin transaction fees.

Ownership category

akta.pro rank

Product category

Stablecoin Infrastructure

NAICS

Funds, Trusts, and Other Financial Vehicles (525)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Stablecoins & On-Chain Money (fiat-backed, crypto-backed, algorithmic; issuance/redemption) (FSAPAEAB)

akta.pro secondary industries

On-Chain Payments & Stablecoin Infrastructure (Issuance, Rails, Treasury) (FSAGAMAD), Stablecoin Protocols (Decentralized) (FSADAMAD)

Keywords

• Bitcoin-backed stablecoin
• Stablecoin infrastructure
• Cross-chain DeFi
• Crypto collateralization
• Decentralized finance protocols

Headquarters

HQ city

Delaware City

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Software

Cost components

Personnel, Technology or R&D, Infrastructure, Operations, Marketing or Sales

Revenue model

1. Stablecoin Transaction Services: Revenue generated through stablecoin transaction and transfer fees on the USBD platform, enabling various financial transactions across multiple blockchain networks.

Go-to-market motion1 record

Core offering

Bima Labs develops USBD, a Bitcoin-backed, dollar-pegged stablecoin that is chain-agnostic and usable across multiple blockchain networks. The platform enables users to stake Bitcoin as collateral to mint USBD, supporting multiple blockchain collateral types for decentralized finance activities without requiring conversion to fiat currency.

Product overview

Bima Labs offers a single unified product — the USBD stablecoin. USBD is a Bitcoin-backed, dollar-pegged stablecoin designed to be chain-agnostic, enabling it to function across various blockchain networks for decentralized finance activities. The product supports multiple blockchain collateral types and allows users to stake Bitcoin as collateral to mint the stablecoin.

Differentiator

Problem solved

Functional benefit

Brands

• USBD: A chain-agnostic Bitcoin-backed stablecoin that can be used for various financial transactions across multiple blockchain networks for decentralized finance activities.

Products and services

• USBD USBD is a Bitcoin-backed, dollar-pegged stablecoin that is chain-agnostic and usable across multiple blockchain networks for decentralized finance activities. It supports multiple blockchain collateral types and allows users to stake Bitcoin as collateral to mint the stablecoin, providing dollar liquidity without selling BTC.

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Scale indicators1 record

Recent moves4 records

Expansion highlights4 records

Direct peers

• MakerDAO / Sky: Issuer of DAI, the most established decentralized, crypto-collateralized stablecoin. Both companies issue dollar-pegged stablecoins backed by crypto collateral and target DeFi users across chains, making it the closest direct comparable.
• Frax Finance: Decentralized issuer of FRAX, a crypto-collateralized, algorithmically/governance-controlled stablecoin. Directly comparable in product (crypto-backed stablecoin), target market (DeFi users), and collateral-flexible model.
• Paxos: Regulated stablecoin issuer (USDP, PYUSD) and tokenization infrastructure provider. Comparable as a dollar-pegged token issuer with institutional-grade rails, though fiat-collateralized rather than BTC-backed.

Emerging players

• Ethena Labs: Issuer of USDe, a synthetic dollar backed by crypto collateral (ETH, BTC) and delta hedging. Comparable in using BTC as collateral to mint a dollar-pegged token aimed at DeFi yield users.
• Threshold Network (tBTC): Decentralized protocol offering tBTC, a Bitcoin-backed ERC-20 used as collateral across DeFi. Comparable in providing BTC-as-collateral infrastructure that bridges Bitcoin to Ethereum/DeFi.
• Babylon Labs: Bitcoin staking protocol enabling BTC holders to secure PoS chains while remaining productive. Adjacent in using BTC as productive collateral in DeFi and is closely tied to the same BTCfi thesis driving demand for USBD.
• Stargate Finance: Cross-chain liquidity and bridging protocol. Comparable in addressing the chain-agnostic liquidity problem USBD aims to solve, though focused on bridging native assets rather than stablecoin issuance.

Broad incumbents

• Circle (USDC): Issuer of USDC, the second-largest regulated stablecoin with broad cross-chain distribution. Overlaps on stablecoin issuance and DeFi/payment rails, but operates with a regulated, fiat-reserve model rather than BTC collateral.
• Tether (USDT): Issuer of USDT, the dominant global stablecoin. Overlaps on stablecoin issuance and multi-chain distribution, but uses a centralized fiat-reserve model instead of BTC collateral.
• Ondo Finance: Issuer of tokenized US Treasuries (OUSG, USDY) and dollar-yield products. Comparable as a tokenized dollar-denominated crypto-asset infrastructure provider targeting DeFi integration, though collateralized by Treasuries rather than BTC.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

• Xx.com/bimabtc
• LinkedInlinkedin.com/company/bimabtc

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds1 record

Investors7 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bima Labs