BitVault Raises $2M from GSR, Gemini, and Auros to Launch BTC-Backed Money
June 18th, 2025– Berlin, Germany BitVault, a DeFi protocol aiming to redefine Bitcoin’s role in stablecoin infrastructure, has announced the close of a $2 million pre-seed round. Strategic investors include GSR, Gemini, Auros, and Keyrock, among others– joining BitVault in building what it calls the “next era of BTC-backed money”: an institutionally-aligned alternative to fiat-pegged stablecoins.
The raise supports the launch of bvUSD, BitVault’s overcollateralized stablecoin backed by Bitcoin derivatives, and sbvUSD, its yield-bearing alternative powered by institutional trading techniques by GSR. BitVault will serve as a core stablecoin protocol on Katana, a new DeFi-first chain incubated by Polygon Labs and GSR prioritizing deep liquidity and user benefits, leveraging a licensed fork of Liquity V2 to enable permissioned borrowing, user-set interest rates, and automated liquidation facilities. Unlike fiat-backed stablecoins like USDC or algorithmic alternatives like Ethena’s USDe, bvUSD is collateralized by BTC derivatives. Only whitelisted institutional borrowers can mint bvUSD in bulk, while anyone can mint bvUSD using stablecoins– mitigating risks associated with anonymous or overleveraged borrowing. The team plans to expand its stablecoin suite to support additional BTC-based security assets and is actively onboarding institutional borrowers.
About BitVault
BitVault is a DeFi protocol that offers a crypto-native solution for money through its BTC-backed stablecoin, bvUSD, and a yield-bearing staked stablecoin, sbvUSD.
