Satoshi Protocol, a stablecoin protocol backed by Bitcoin (BTC), has successfully raised $2 million in its seed funding round led by CMS Holdings and RockTree Capital.

The protocol, which enables Bitcoin holders to use their coins as collateral to mint the native SAT stablecoin, plans to use the funds to enhance network security and expand its integration across Layer-2 solutions, aiming for further traction within the ecosystem.

Satoshi Protocol currently integrates with several Bitcoin protocols, including Bitlayer, BEVM, Omni Network, and Core Chain. The protocol recently collaborated with Binance’s Web3 Wallet Campaign, reaching over 172,000 users.

Satoshi Protocol’s stablecoin integration

In a statement, Satoshi Protocol co-founder and CEO Naka said that the funding round is a …