PANews reported on October 16th that YZi Labs has officially announced it has led a $50 million funding round in the Better Payment Network (BPN) to accelerate the development of a multi-stablecoin payment infrastructure, furthering its commitment to supporting scalable, real-world blockchain applications that connect traditional finance with on-chain systems. The newly raised funds will primarily be used to establish an initial on-chain liquidity pool for stablecoin-to-stablecoin channels and develop an early market-making ecosystem.

According to reports, BPN provides a unified layer for the minting, exchange and settlement of stablecoins backed by fiat currencies on the BNB chain, building a bridge between CeFi and DeFi, and helping the global market achieve faster, lower-cost and regulatory-compliant cross-border payments.