El Salvador’s Banking Platform Galoy Launches Bitcoin-backed Synthetic Dollar

El Salvador’s banking platform Galoy launches Bitcoin-backed synthetic dollar. By leveraging derivatives contracts to produce a synthetic dollar backed by bitcoin and tied to the US dollar, Stablesats seeks to offer an alternative to the present stablecoin network and regular-way bank integration.
Source

Bitcoin

Stablecoins

Related News
Trump makes over $57 million from WLFI sales, Truth Social files for Bitcoin and Ethereum combo ETF, and more Trump makes over $57 million from WLFI sales, Truth Social files for Bitcoin and Ethereum combo ETF, and more
Wall Street back-office giant DTCC mulls stablecoin integration: report Wall Street back-office giant DTCC mulls stablecoin integration: report
Crypto industry cheers progress in 'historic' stablecoin legislation as Senate advances GENIUS Act Crypto industry cheers progress in 'historic' stablecoin legislation as Senate advances GENIUS Act
FalconX partners with Standard Chartered to boost crypto offerings for institutional clients FalconX partners with Standard Chartered to boost crypto offerings for institutional clients
Bitcoin dominates global crypto funds' $882 million weekly inflows as Sui outperforms major altcoin products Bitcoin dominates global crypto funds' $882 million weekly inflows as Sui outperforms major altcoin products
Latest News More More
1 Day Ago Ethereum community plans onchain ‘time capsule’ to mark 10th anniversary of network’s genesis block
6 Days Ago Circle's post-IPO stock surge pushes market cap near Coinbase and USDC
June 20 Kraken offers bitcoin ‘staking’ yield via Babylon without wrapping or lending
June 13 XRP Ledger adopts USDC one week after Circle goes public
June 10 Foresight Ventures Report Shows a Pendulent Shift of Over 32,000 Global Merchants Accepting Crypto Payment
delate
Use TokenInsight App All Crypto Insights Are In Your Hands
Open