TechFlow, June 18 — According to Cointelegraph, DeFi protocol BitVault has announced the completion of a $2 million pre-seed funding round, with investors including GSR, Gemini, Auros, and Keyrock.
BitVault will launch bvUSD, an over-collateralized stablecoin backed by Bitcoin derivatives, along with its yield-bearing variant sbvUSD. The protocol will be deployed on Katana, a new decentralized finance chain incubated by Polygon Labs and GSR, leveraging an authorized fork of Liquity V2 to enable permissioned lending, user-defined interest rates, and automated liquidation infrastructure.
BitVault plans to deploy on the Katana mainnet in June 2025 and is actively onboarding institutional borrowers.
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