First synthetic dollar USDh backed by Bitcoin will arrive in June

The Hermetica DeFi platform announced the first Bitcoin-backed synthetic dollar USDh to be launched in June with a potential return of up to 25 % expected

The Hermetica DeFi company announced the launch in early June of the first synthetic dollar USDh backed by Bitcoin.

It is the “first stablecoin backed by Bitcoin, to the DeFi ecosystem. This innovation allows bitcoiners to hold dollars, earn significant returns, and remain fully integrated into the Bitcoin ecosystem without having to withdraw funds via cryptocurrency-to-fiat off-ramps.”

The potential return in the target market is 25 %. In addition to allowing income generation for traders and investors who participate in DeFi platforms.

In the announcement about this first stablecoin backed by Bitcoin, it can be seen that it was designed for the L1 of Bitcoin and there will be L2 platforms.

Jakob Shillinger, CEO of Hermetica, stated: “I am delighted to address some of the important issues affecting the Bitcoin (BTC) community today. In the near future, you will have the opportunity to own dollars without inflationary worries while staying away from the conventional banking system. No banks, no fiat money – just Bitcoin and a stablecoin anchored to the world’s strongest asset (BTC). This configuration guarantees the most unbreakable security in the Blockchain (Bitcoin) itself.”



(Reference image source: Unsplash+, in collaboration with Ave Calvar)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

You might also like