Most fintech infrastructure today still treats bitcoin as an asset to be bolted on. Galoy treats it as the foundation. Today we are excited to announce our investment in Galoy, the team building open-source, Bitcoin-native core banking software for the next era of finance. Founded in 2019 by Nicolas Burtey and Chris Hunter and based in Mountain View, Galoy gives institutions a complete stack for offering Bitcoin, Lightning, and stablecoin services without having to reinvent ledgering, custody, or compliance from scratch.

Galoy's track record is unusually concrete for an infrastructure company. Its codebase powers Blink, the Lightning wallet that grew out of the original Bitcoin Beach Wallet in El Zonte, El Salvador, and is used daily by tens of thousands of people. The same stack underpins community projects like Bitcoin Jungle in Costa Rica and powers consumer-facing teams like Lava. With Stablesats, Galoy pioneered a way for users to hold synthetic dollar balances on Lightning without touching a stablecoin issuer or a fiat integration.

This is exactly the kind of company we look for at Fulgur. Galoy is not building a wallet, an exchange, or a single product; it is building the rails that hundreds of future products will run on. By open-sourcing the core banking layer and packaging it as enterprise-grade infrastructure, Nicolas, Chris, and the team are making it dramatically cheaper for any bank, fintech, or community to launch Bitcoin and Lightning services.

As regulated financial institutions begin to integrate Bitcoin natively, the demand for proven, modular, Bitcoin-first banking software will only grow. We could not be more excited to back Galoy as it builds the banking software for the Bitcoin age.