DeFi protocol Hermetica launches stablecoin USDH
On July 17th, Hermetica, a Defi protocol, launched USDH, a stablecoin supported by BTC. Hermetica claims that USDH can always be exchanged for 1 US dollar worth of BTC, providing users with a non-custodial option. The release aims to eliminate the need for Bitcoin users to rely on centralized exchanges or alternative chains for legal support stablecoins. The company also announced plans to use L2 solutions such as Stacks to expand its Bitcoin-native defi operations.
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