We are excited to announce that bitSmiley, the pioneering Bitcoin-native DeFi project co-invested by OKX Venture and ABCDE, has successfully raised $10 million in funding to further advance its innovative offerings in the crypto space. As the first stablecoin initiative in the Bitcoin DeFi ecosystem, bitSmiley is set to revolutionize the way users engage with digital assets through its unique Fintegra framework, which consists of a decentralized overcollateralized stablecoin protocol, a native trustless lending protocol, and an on-chain derivatives protocol. This funding will enable the company to expedite the launch of bitUSD, its cutting-edge overcollateralized stablecoin, which addresses the critical need for stable price-pegging tools within the Bitcoin ecosystem. bitUSD allows users to generate a stablecoin by overcollateralizing their Bitcoin, providing enhanced security and liquidity to participate seamlessly in various DeFi activities. The funding will also support the development of robust procedures for asset stability, including an advanced liquidation and repayment framework that ensures both security for users and stability for their investments. With the backing of industry leaders and a commitment to innovation, bitSmiley is poised to redefine the boundaries of decentralized finance. Explore the bitSmiley universe and stay connected with us through our official website, Twitter, Discord, and Medium for ongoing updates. Join us at the forefront of the crypto revolution鈥攚here stability meets innovation!
bitSmiley Secures $10M in Series B Funding to Revolutionize Bitcoin DeFi Ecosystem
Recently funded 路 $10.0M Series bBlockchain Services
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