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Stablesats synthetic USD now live
- janandonly 4y agoSee also: https://bitcoinmagazine.com/technical/galoy-brings-us-dollars-to-bitcoin https://bitcoinmagazine.com/technical/galoy-brings-us-dollar...
- janandonly 4y ago“With Stablesats-enabled Lightning wallets, users are able to send from, receive to and hold money in a USD account in addition to their default BTC account,” said Nicolas Burtey, CEO of Galoy, in a statement sent to Bitcoin Magazine. “While the dollar value of their BTC account fluctuates, $1 in their USD account remains $1 regardless of the bitcoin exchange rate.” Notably, Galoy's implementation differs from a common "stablecoin" such as Tether's USDT in that there is no token –– it's just bitcoin stabilized into a dollar balance.