According to ChainCatcher, according to official news, Ducat, a Bitcoin native stablecoin project on Runes, has completed a $1.25 million Pre-Seed round of financing, led by UTXO Management, with participation from THE CMS, Bitcoin Frontier Fund, Revelo Intel, MARIN DIGITAL VENTURES, Samara Asset Group, Bitcoin Startup Lab, Bitflow, X+ and others.

Ducat addresses the centralization problem in the stablecoin market by providing a Bitcoin-native, self-custodial, and permissionless smart contract system that meets Bitcoin holders' preferences for security and autonomy. The governance token DUCAT provides a stablecoin solution that combines Bitcoin's censorship resistance with decentralized native collateral.