BitVault Raises $2M From GSR, Gemini, And Auros To Launch BTC-Backed Money

This story was originally published on HackerNoon at: https://hackernoon.com/bitvault-raises-$2m-from-gsr-gemini-and-auros-to-launch-btc-backed-money . The raise supports the launch of bvUSD, BitVault’s overcollateralized stablecoin backed by Bitcoin derivatives, and sbvUSD, its yield-bearing variant powered by Check more stories related to web3 at: https://hackernoon.com/c/web3 . You can also check exclusive content about #web3 , #bitvault , #chainwire , #press-release , #bitvault-announcement , #bitcoin-adoption , #blockchain-development , #good-company , and more. This story was written by: @chainwire . Learn more about this writer by checking @chainwire's about page, and for more stories, please visit hackernoon.com . BitVault, a DeFi protocol aiming to redefine Bitcoin’s role in stablecoin infrastructure, has announced the close of a $2 million pre-seed round. Strategic investors include GSR, Gemini, Auros, and Keyrock. BitVault will serve as a core stablecoin protocol on Katana, a new DeFi-first chain incubated by Polygon Labs and GSR.