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WBTC revolutionizes Defi: Bitcoin now ready for use!
Wrapped Bitcoin (WBTC) strengthens its role as a new standard in the Defi area, improves cross-chain functionality and institutional custody.
WBTC revolutionizes Defi: Bitcoin now ready for use!
Wrapped Bitcoin (WBTC) has significantly strengthened its role as a multichain standard in the Defi ecosystem. How Daily Hodl reported, the integration of WBTC has recently been expanded via several blockchain networks and protocols to improve cross-chain functionality. This update aims to promote and facilitate the use of Bitcoin in the world of decentralized finances (Defi).
WBTC enables Bitcoin holders to access decentralized applications via a fully kept, verifiable 1: 1 token. Since its introduction in early 2019, WBTC has reached an impressive market capitalization of around $ 14.5 billion and offers one of the deepest liquidities in the Defi market.
Expansion and new integrations
An important step in the latest development was the native introduction of WBTC on the Solana blockchain. This new integration is part of an ongoing expansion into additional chains, which is intended to significantly expand the functionality and range of WBTC. The design of WBTC attaches particular importance to institutional custody, transparency and compatibility across various ecosystems, which increases its attractiveness for institutional investors.
WBTC is increasingly described as a new Bitcoin standard, which brings out the advantages of Bitcoin in environments at high speed and capital efficiency. This is particularly important in a market that is constantly on the move and in which scalability plays a central role.
Integration in Defi protocols
The success of WBTC can also be seen in its extensive integration in hundreds of defi protocols. The prominent platforms that use WBTC include Tapp Exchange, Hyperion, Navi Protocol, Volo, Thala, Echelon, Shadow Exchange, Beefy, Pancakeswap, Sonic Labs, Teleswap, Hemi, Renzo Protocol, Structured, Saros and Concrete.
The diversity of the integrated protocols testifies to the broad acceptance and the increasing importance of WBTC in the defi room. Your ability to give Bitcoin these new possibilities and applications not only creates added value for investors, but also for the entire crypto ecosystem.
For more information about WBTC and its role in the Defi market, visit the official Website.
Please note that this information is only provided for information purposes and do not represent financial advice.