Galoy Brings U.S. Dollars To Bitcoin’s Lightning Network

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In addition to its new bitcoin-backed U.S. dollar balance on Lightning, Galoy also announced a $4 million raise.Galoy Inc., the team behind the wallet of El Salvador’s Bitcoin circular economy Bitcoin Beach, is adding a new feature to that infrastructure: bitcoin-backed synthetic U.S. dollars.Often seen as a need among citizens of developing countries, a representation of the U.S. dollar backed by BTC promises to enable anyone to hedge against the daily volatility of bitcoin. While it can be a ...

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