DeFi Protocol BitVault Completes $2 Million Pre-Seed Round Financing

【DeFi Protocol BitVault Completes $2 Million Pre-Seed Round Financing】DeFi protocol BitVault announced the completion of $2 million in pre-seed financing, with investors including GSR, Gemini, Auros, and Keyrock. BitVault will launch an over-collateralized stablecoin bvUSD supported by Bitcoin derivatives and its yield-bearing variant sbvUSD. The protocol will be deployed on the new decentralized finance chain Katana, incubated by Polygon Labs and GSR, utilizing a permissioned fork of Liquity V2 to achieve permissioned lending, user-set interest rates, and automatic liquidation infrastructure. BitVault plans to deploy on the Katana mainnet in June 2025 and is actively onboarding institutional borrowers.