{"id":96714,"date":"2024-10-16T19:01:09","date_gmt":"2024-10-16T23:01:09","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=96714"},"modified":"2024-10-16T19:04:15","modified_gmt":"2024-10-16T23:04:15","slug":"hermetica-secures-1-7m-to-expand-stablecoin-usdh","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/hermetica-secures-1-7m-to-expand-stablecoin-usdh\/","title":{"rendered":"Hermetica Secures $1.7M to Expand Stablecoin USDh"},"content":{"rendered":"\n

Hermetica, the company behind the Bitcoin-backed stablecoin USDh, has raised $1.7 million in seed funding<\/a>.\u00a0
<\/p>\n\n\n\n

\"Hermetica
Hermetica Secures $1.7M to Expand Stablecoin USDh<\/figcaption><\/figure>\n\n\n\n

The money will help USDh\u2014a stablecoin intended to be backed by Bitcoin\u2014grow. Rather than fluctuating in value like Bitcoin, a stablecoin seeks to maintain its value pegged to a stable asset, such as the US dollar<\/a>. <\/p>\n\n\n\n

Without leaving the Bitcoin ecosystem, USDh enables holders of Bitcoin to transact with a digital asset based on the value of the US dollar. For instance, one USDh is equivalent to one USD in Bitcoin. <\/p>\n\n\n\n

A press statement from the company stated that UTXO Management spearheaded the investment round, which featured several significant backers like CMS Holdings<\/a>, Ethos Fund, and Trust Machines SPV. <\/p>\n\n\n\n

Liquidium's Robin Obermaier and Zest Protocol's Tycho Onnasch also made strategic contributions.\u00a0<\/p>\n\n\n\n

What is USDh?\u00a0<\/h2>\n\n\n\n

USDh is released on Layer 1 and Layer 2 networks\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, enabling quicker and less expensive transactions and on the primary blockchain of Bitcoin. <\/p>\n\n\n\n

On decentralized exchanges, one can purchase the stablecoin. Hermetica introduced USDh on the Stacks Layer 2 network last month. <\/p>\n\n\n\n

With this change, consumers could earn returns as high as 25%. USDh aims to take a portion of the projected $1 trillion in unrealized Bitcoin value<\/a> that could be unlocked in DeFi as the stablecoin market expands. <\/p>\n\n\n\n

Its objective is to allow users of the Bitcoin market to safely retain dollars without having to leave the network or exchange them for fiat money.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Hermetica, the company behind the Bitcoin-backed stablecoin USDh, has raised $1.7 million in seed funding.\u00a0 The money will help USDh\u2014a stablecoin intended to be backed by Bitcoin\u2014grow. Rather than fluctuating in value like Bitcoin, a stablecoin seeks to maintain its value pegged to a stable asset, such as the US dollar. Without leaving the Bitcoin […]<\/p>\n","protected":false},"author":43,"featured_media":96715,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[19446,1531,19445],"class_list":["post-96714","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-hermetica","tag-stablecoin","tag-usdh"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/10\/croc_1729109342535.jpeg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/96714","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=96714"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/96714\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/96715"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=96714"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=96714"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=96714"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}