On August 3, Galoy, the business that created the Bitcoin Beach Wallet, released two statements. According to the company’s inaugural release, the startup has secured $4 million from critical investors to “develop bitcoin-native banking infrastructure.” We’re excited to share two announcements: 1) We raised $4M to further bitcoin-native banking infrastructure. 2) We’re releasing Stablesats – a feature to hold and transact dollars over Lightning without the use of stablecoins or fiat integration.https://t.co/OlJAyufLju — Galoy (@GaloyMoney) August 3, 2022 Notable Bitcoin Investors Participated in Galoy’s Investment Round Hivemind Ventures served as the funding round’s lead investor. Still, Alphapoint, Valor Equity Partners, Timechain, El Zonte Capital, Kingsway Capital, and Trammell Venture Partners also contributed to the most recent round of funding. According to Galoy, “other notable bitcoin investors” participated in the investment round. Max Webster, the founder of Hivemind Ventures, thinks open source Bitcoin banking is essential to advancing the widespread adoption of innovations like the Lightning Network. Nicolas Burtey, the creator of Galoy, firmly believes that LN will dominate BTC payments in the future. “It’s no secret that Bitcoin and Lightning are disrupting traditional finance,” Burtey remarked during the fundraising announcement. Galoy Unveils Stablesats Galoy announced the fundraiser and the release of Stables...
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