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BitVault, a DeFi protocol, has secured $2 million in pre-seed funding to launch BTC-backed stablecoins. The project aims to redefine Bitcoin’s role in stablecoin infrastructure with institutional-grade solutions.
- BitVault's bvUSD is an overcollateralized stablecoin backed by Bitcoin derivatives, offering a crypto-native alternative to fiat-pegged options.
- The protocol will launch on Katana, a DeFi-first chain co-developed by Polygon Labs and GSR, enhancing liquidity and user rewards.
- Institutional investors like GSR will manage yield strategies for sbvUSD, BitVault's yield-bearing stablecoin variant.
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