The Bitcoin-native stablecoin project Ducat has completed a $1.25 million Pre-Seed funding round, led by UTXO Management.

according to official sources, the Bitcoin native stablecoin project Ducat on Runes has completed a $1.25 million Pre-Seed funding round, 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 issues in the stablecoin market by providing a Bitcoin-native, self-custodial, and permissionless smart contract system, catering to Bitcoin holders' preferences for security and autonomy. The governance token DUCAT offers a stablecoin solution that combines Bitcoin's censorship resistance with decentralized native collateral.