BitVault completes $2 million financing and will launch Bitcoin derivatives supporting the stablecoin bvUSD.

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[Golden Finance] reported that the DeFi protocol BitVault announced the completion of a $2 million pre-seed funding round, with investors including GSR, Gemini, Auros, and Keyrock. BitVault will launch an over-collateralized stablecoin bvUSD supported by Bitcoin derivation and its yield-bearing variant sbvUSD. The protocol will be deployed on the new decentralized finance chain Katana, incubated by Polygon Labs and GSR, utilizing the authorized fork of Liquity V2 to implement permissioned lending, user-defined interest rates, and automatic liquidation infrastructure. BitVault plans to deploy on the Katana Mainnet in June 2025 and is actively onboarding institutional borrowers.

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