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Bitcoin-based DeFi protocol HermeticaFi has launched USDh, the first Bitcoin-backed, yield-bearing synthetic dollar outside the fiat system. USDh is now live on Runes and Stacks, with a stable pool coming soon to Bitflow. The development marks a significant step in the evolution of stablecoins, with other entities like RD Technologies also making strides in the sector by joining the Stablecoin Issuer Sandbox of the Hong Kong Monetary Authority. HermeticaFi's USDh enters a competitive market with BAMKFi's $NUSD, which has a month's head start and $4M in TVL.
Congratulations to @RD_Technologies on their successful admission to the Stablecoin Issuer Sandbox of the Hong Kong Monetary Authority (HKMA)!🥳 #RDTechnologies #HKDRStablecoin https://t.co/u0i3SScqtb
Stablecoins is a critical link to facilitate mass-onboarding into web3. It's a privilege for @animocabrands @Moca_Network to be a pioneering part of this and another demonstration of HK establishing itself as a leader in web3, Blockchain and digital assets! https://t.co/QnOeJNOVjj
Now that @HermeticaFi released a stablecoin on Bitcoin, BAMKFi's $NUSD has competition. $NUSD was first -- and has a month's head start on Hermetica with $4M in TVL -- But who can get to $10M first? This calls for a new prediction market! https://t.co/7EgmCwGmwJ