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Satoshi Protocol Secures $2 Million Seed Funding to Expand Bitcoin Ecosystem

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Jul 10, 2024

Satoshi Protocol, a stablecoin protocol within the Bitcoin ecosystem, has announced the completion of a $2 million seed funding round. The round was led by CMS Holdings and RockTree Capital, with participation from Cypher Capital, Side Door Ventures, Optic Capital, Metalpha, Outliers Fund, Comma3, and angel investors Paul Taylor and Yenwen Feng. Satoshi Protocol allows users to mint USD stablecoins by depositing $BTC and BTC-based yield assets with a 110% collateralization rate. The protocol has been deployed on various networks and is expanding its use cases within the Bitcoin ecosystem, including developing a new stablecoin based on Bitcoin mainnet and collaborating with projects like Omini Network to bridge Bitcoin and Ethereum ecosystems.

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