As CoinDesk reported Monday (Jun 9), the capital will be available via OpenCircle, a launchpad created by OpenLedger to help developers create artificial intelligence (AI)-focused protocols.
The report notes that the funding is happening amid increased interaction between the blockchain and AI industries.
For example, Telegram said recently it would incorporate the xAI chatbot Grok onto its messaging app, while also accepting the TON token for crypto payments.
“AI is currently an extractive economy, profiting from invisible labor and centralized training pipelines,” said Ram, a core contributor at OpenLedger. “OpenCircle turns that model inside out. We’re building a system where anyone who contributes, whether through code, data, or compute, owns a piece of the value they help create.”
According to the report, OpenLedger raised $8 million in a seed round last year as it looked to become the “sovereign data blockchain for AI technology.” The company also inked a deal with restaking protocol Ether.fi to bolster AI model development and security.
In other blockchain related news, PYMNTS wrote last week about the use of stablecoins as an innovation in cross-border payments. Compared to volatile traditional cryptocurrencies, stablecoins are pegged to traditional currencies, like the U.S. dollar or euro, offering price stability and predictability.
Many stablecoins use blockchain networks that are open and programmable, which lets small institutions access global payment rails without needing to build or maintain them on their own.
“Imagine sending money from here to Uruguay,” Conduit CEO Kirill Gertman told PYMNTS last week. “You open your Venmo, type in the amount, and your friend receives it via Pix in Brazil. You never leave your app. That’s where we’re going.”
“There are advantages in instant settlement,” Gertman added. “You don’t need as much working capital. You’re not exposed to FX gain/loss.”
Meanwhile, BVNK and LianLian Global partnered last week to allow merchants to use major stablecoins to fund cross-border transactions.
“Stablecoins are reshaping global finance,” said BVNK CEO and co-founder Jesse Hemson-Struthers. “Through this partnership, LianLian Global’s merchants can transform idle digital assets into instant cross-border payment fuel.”
But in spite of the promise of stablecoins and digital wallets, these tools also introduce new risks and regulatory considerations, PYMNTS wrote.
“Stablecoin providers must maintain reserves and operate under transparent, secure frameworks to avoid destabilizing events. Additionally, the global regulatory landscape is fragmented,” that report said.
