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

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

Aug 03,2022,22:04
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.
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