BitVault has successfully closed a $2 million pre-seed round to launch its overcollateralized stablecoin, bvUSD, backed by Bitcoin derivatives. This initiative responds to the increasing demand for crypto, integrating institutional strategies through partners like GSR. The new stablecoin protocol operates on the Katana DeFi chain, focusing on deep liquidity and user rewards. Unlike traditional fiat-pegged stablecoins, bvUSD mitigates risks by limiting minting to whitelisted institutional borrowers or allowing for minting with stablecoins, thus creating a safer ecosystem. BitVault is poised to offer an institutional alternative in the stablecoin space.
"Bitcoin was built for moments of fracture. BitVault was built to make it usable," said Michael Kisselgof, Core Contributor of BitVault and VaultCraft. "We specifically onboarded GSR, Auros, and Keyrock..."
BitVault arrives amid rising demand for crypto-native stability in a fragmented global monetary environment. Unlike fiat-backed stablecoins like USDC or algorithmic options like...
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