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Fintech Firm Galoy Raises $4 Million, Startup Introduces Bitcoin-Backed Synthetic Dollar Product – Bitcoin News

On Wednesday, Galoy, the firm behind El Salvador’s Bitcoin Beach Wallet, announced that the company raised $4 million in funding in an investment round led by Hivemind Ventures. On the same day, the startup launched a new product called Stablesats, a stablecoin concept that leverages derivatives contracts to create a

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Banking Platform Galoy Raises $4M for Bitcoin-Backed Synthetic Dollar

“Bitcoin has brought digital transactions to previously unbanked communities across Latin America, Africa and beyond,” said Galoy CEO Nicolas Burtey in a press release. “However, its volatility makes managing financial obligations difficult. With Stablesats-enabled Lightning wallets, users are able to send from, receive to, and hold money in, a [U.S.

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