Galoy Brings US Dollars Into Bitcoin – Bitcoin Magazine

Galoy Inc., the team behind El Salvador’s Bitcoin Beach circular economy wallet, is adding a new feature to that infrastructure: bitcoin-backed synthetic US dollars.

Often seen as a need among citizens of developing countries, a representation of the US dollar backed by BTC promises to allow anyone to protect themselves from bitcoin’s daily volatility. While it can be argued that bitcoin is the best currency and could be used as such in day-to-day transactions, some see value in saving BTC and spending in USD – and Galoy’s new product feature, Stablesats, allows users to do all about Bitcoin.

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