Bullish은 고성능 GPU 인프라 자금 조달을 위해 USD.AI에 1억 달러 규모의 스테이블코인 기반 유동성 시설을 발표했습니다.
New York, August 28, 2026. Bullish, an institutionally focused global digital asset platform that provides market infrastructure and information services, today announced its strategic entry into middle-market AI infrastructure financing through a $100 million stablecoin-based liquidity facility provided to USD.AI. This major investment will power USD.AI's premier GPU financing ecosystem, empowering them to lend capital directly against high-performance computing assets. With the facility, Bullish is targeting a capital-intensive sector that has rapidly emerged as one of the largest in private credit, with a scale that eclipses legacy debt markets such as auto loans and home equity lines of credit.
Thomas Cowan, Head of Tokenization at Bullish, stated, Our commitment to USD.AI reflects a conviction we've believed since our first investment in the protocol: that credible, well-structured real-world assets belong onchain. USD.AI's onchain transparency gave us the visibility to underwrite this facility with the same institutional diligence we apply across our platform, and backing it is a meaningful step toward bringing tokenized assets to institutional scale.
The $100 million debt facility is powered by Bullish Exchange's deep liquidity. As part of the initiative, Bullish will onboard sUSDai across multiple trading pairs, supported by a dedicated market-making program. Once live, these markets are expected to deepen secondary liquidity and price discovery for GPU-based debt, helping establish a more transparent market for the cost of compute. David Choi, CEO of Permian Labs, the developer of USD.AI, said, Bullish recognizes that compute is becoming a credit market in its own right. Its $100 million facility and institutional market infrastructure will help USD.AI finance more of the AI buildout while creating deeper, more transparent markets for compute-backed credit. Bullish is the right partner to scale this rapidly growing asset class onchain and broaden institutional participation.
Alongside the debt facility, Bullish and USD.AI are expanding their joint research initiative to optimize capital formation models for the AI CapEx sector. By pairing Bullish's institutional market structure expertise with USD.AI's specialized GPU financing architecture, the collaboration aims to connect on-chain liquidity with the demand for AI compute. Bullish, listed as NYSE: BLSH, is an institutionally focused global digital asset platform that provides regulated market infrastructure and information services, including Bullish Exchange and Bullish Europe, which is regulated under MiCAR. Bullish is also the parent company of CoinDesk, a leading provider of digital asset media and information services offering CoinDesk Indices, CoinDesk Data, and CoinDesk Insights. USD.AI provides AI infrastructure operators with strategic, non-dilutive financing facilities essential for their scale requirements. The protocol delivers non-recourse loans secured exclusively by the underlying GPU infrastructure, isolating risk from the corporate balance sheet. USD.AI's financing is asset-backed, transparent, and settled on-chain, providing capital providers with direct exposure to income-producing compute assets. For more information, please visit bullish.com and follow LinkedIn and X.