Galoy Brings US Dollars To Bitcoin – Bitcoin Magazine

Galoy Inc., the team behind the wallet of El Salvador’s Bitcoin circular economy Bitcoin Beach, 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 enable anyone to hedge against the daily volatility of bitcoin. While it can be argued that bitcoin is the better currency and could be used as such in daily transactions, see some value in saving in BTC and spending in USD –– and Galoy’s new product feature, Stablesats, allows users to do that all on Bitcoin .

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