BlockBeats News, May 14th, TownSquare, an infrastructure focused on institutional yield and cross-chain lending brokerage services, announced the launch of a $100 million USD1 Token Liquidity Program. This is designed to expand institutional yield and cross-chain yield to more users through an institutional yield strategy, using the USD1 stablecoin from the World Liberty Financial platform.

Previously, TownSquare had partnered with the World Liberty Financial DeFi team to introduce the USD1 token to the high-performance EVM chain, Monad, and received official incentives from the Monad Foundation. The team officially stated that this new liquidity program marks TownSquare's continued efforts to expand the application of DeFi and bring institutional yield strategies to more assets.

Currently, the project's website has launched cross-chain lending functionality, and the interest-bearing pool product is in the "coming soon" state.

According to official information, the project has previously completed a fundraising round with support from investors such as Monad, a16z, Aptos, Solana Bonk, as well as other European and American angel investors and VCs. The team is founded by individuals with backgrounds from Coinbase, Meta, Accenture, and market makers. Information about the project's new fundraising round has not yet been disclosed.