Umoja and Merlin Chain introduce Bitcoin-based USDb stablecoin
USDb offers stability and high returns in Bitcoin-based finance.
Share this article
Umoja has partnered with Merlin Chain to unveil the dollar-pegged stablecoin USDb on the Bitcoin (BTC) finance ecosystem. This collaboration is set to boost Merlin’s layer-2 framework built on Bitcoin.
According to the announcement, the USDb stablecoin is based on tokenized trading strategies, not backed by any collateral or algorithm. Umoja’s pools Bitcoin assets to generate high yields while maintaining its dollar peg, with the announcement stating that it offers users both stability and passive income.
“I chose Merlin not only for these reasons, but also because the most decentralized, accessible, lowest risk and highest-yielding money will become the most adopted – and such money can only be built on Bitcoin,” said Umoja founder Robby Greenfield.
The money market strategies enable the creation of Synths, which mimic traditional financial instruments and offer higher yield and protection, while also breaking down the “ROI paywall barrier,” granting retail investors access to strategies typically reserved for financial institutions.
Merlin Chain has quickly garnered over $3.6 billion in total value locked (TVL), boosted by the Bitcoin finance (BTCfi) narrative that is gaining traction with the Runes protocol launch set to go live on April 20. The partnership with Umoja is poised to enhance the accessibility of advanced asset management tools, contributing to a more inclusive financial landscape.
Share this article
