FinTechFunding

Gyroscope: Raises $4.5M in Seed Funding

Gyroscope Raises $4.5M in Seed Funding

  • Gyroscope, a George Town, Cayman Islands-based decentralized all-weather stablecoin company, raised $4.5M in Seed funding
  • The round was led by Placeholder VC and Galaxy with participation from Maven11, Archetype, and Robot Ventures, as well as angel investment from Cyrus Younessi, Fernando Martinelli, Hart Lambur, and Will Villaneuva
  • The company intends to use the funds to accelerate growth, expand operations and its business reach
  • The company is a decentralized stablecoin featuring a novel all-weather stablecoin design (Gyro Dollar)
  • A live beta version of the new GYD stablecoin mechanism – Gyro Proto – is now live on mainnet Polygon and is open to all for testing
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Steve Sam
Steve Sam
Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

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