Stablecoin project Reflect Money announced the completion of a $3.75 million seed funding round led by a16z Crypto's CSX Accelerator, with participation from Solana Ventures, Equilibrium, BigBrain Holdings, and Colosseum. The project plans to build a "software-as-stablecoin" infrastructure, enabling applications to issue interest-bearing USD without locking up capital. The Reflect protocol tokenizes on-chain DeFi strategies, converting deposited USDC into interest-bearing "USDC+" while maintaining liquidity. The stablecoin is non-custodial and can be minted or redeemed at any time. Reflect will launch on mainnet in early September, initially supporting USDC on Solana.