BitVault, a DeFi protocol focused on redefining Bitcoin's role in stablecoin infrastructure, has announced the completion of a $2 million pre-seed funding round.
Funding and Strategic Partners
BitVault attracted strategic investors such as GSR, Gemini, Auros, and Keyrock to develop a new approach to stablecoins. This funding supports the launch of the new stablecoin, bvUSD, which will be backed by Bitcoin derivatives.
Innovations in Stablecoin Technology
bvUSD will be complemented by user-friendly options allowing users to earn yield through its derivative stablecoin, sbvUSD, which is managed by trading strategies from GSR. This offering is geared towards institutional borrowers and mitigates risks associated with anonymous borrowing.
Future Plans
BitVault is scheduled for mainnet deployment in June 2025. The team plans to expand the stablecoin suite and actively onboard institutional borrowers, aiming to enhance the capitalization and liquidity of their products.
BitVault aims to transform the stablecoin concept with a focus on Bitcoin, reflecting the growing interest in these assets within a new economic reality.
