According to TechFlow, on July 9, Satoshi Protocol announced that it had completed a $2 million seed round of financing in May 2024. This round of financing was led by CMS Holdings and RockTree Capital, and investors included Cypher Capital, Optic Capital, Side Door Ventures, Metalpha, Outliers Fund, Comma3, and angel investors Paul Taylor and Yenwen Feng.
Satoshi Protocol is a universal stablecoin protocol based on the Bitcoin ecosystem, allowing users to mint $SAT stablecoins using BTC and LST as collateral. The protocol has been integrated on the Bitcoin mainnet and multiple L2s, and has collaborated with Binance Web3 Wallet and others.