Hermetica, a pioneering platform offering Bitcoin-backed synthetic dollar (USDh), has successfully raised $1.7 million in a funding round. The investment was led by UTXO Management, a renowned virtual asset venture capital firm. With this funding, Hermetica aims to enhance the USDh platform by increasing liquidity, collaborating with institutional custodians, and developing over-the-counter settlement solutions. These improvements will further enhance the USDh's functionality and accessibility as an alternative to traditional stablecoins. By leveraging the stability of Bitcoin and the ease of use of synthetic fiat, Hermetica is empowering users with a secure and efficient solution for everyday transactions and financial services.