Xverse, Leading Bitcoin Ecosystem Wallet, Adopts sBTC as Preferred Scaling Solution for the Bitcoin Economy

2024-12-16 10:38:18 Primitive Reading

From theblock

Xverse, the leading Bitcoin ecosystem wallet, is set to integrate sBTC, paving the way for innovative scaling solutions for the Bitcoin economy. This integration enables novel use cases, such as scaling Layer 1 asset activity like Runes via sBTC and Stacks, the leading layer 2. By incorporating sBTC, Xverse is unlocking a wide array of decentralized finance (DeFi) opportunities for Bitcoin users, allowing them to participate in activities such as lending, borrowing, and trading while maintaining ownership of their underlying bitcoin.

“We're excited to bring sBTC support to Xverse, contributing to Bitcoin's scaling solutions,” says Ken Liao, Founder and CEO at Xverse. “Soon, users will have an easy way to bridge their BTC to sBTC directly within the wallet, unlocking new opportunities across the Bitcoin and Stacks ecosystems.”

Xverse has been at the forefront of Bitcoin ecosystem innovations, starting with its pioneering integration of both BTC and STX in a single wallet, and providing the first mobile experience for the Stacks L2. The wallet embraced the growing popularity of L2 assets in DeFi by enabling native in-app swaps for Stacks' fungible token standard, offering users a user-friendly entry point to decentralized finance on Bitcoin's leading L2. During the Ordinals boom, Xverse quickly adopted the new Bitcoin NFT standard, solidifying its position as an industry leader. When Runes, an alternative Bitcoin asset standard to BRC20, was introduced by Ordinals creator Casey Rodarmor, Xverse collaborated closely with the creator to enable Runes trading from day one, further demonstrating its commitment to supporting cutting-edge developments in the Bitcoin space.

Xverse x Bitflow

In collaboration with Xverse, DeFi app Bitflow will soon launch the first Bitcoin Runes Automated Market Maker (AMM) on Stacks, furthering its position as the leading Bitcoin Layer 2. This partnership between Xverse and Bitflow offers users a Layer-1 Bitcoin DEX trading experience with Stacks serving as the execution layer. This collaboration brings sophisticated DeFi capabilities to the Bitcoin ecosystem, leveraging the security of Bitcoin with the programmability of Stacks.

₿est and ₿rightest

Xverse is part of the Stacks Foundation's "Best and the Brightest" campaign, which aims to showcase leading organizations that support sBTC, Stacks’ fully programmable Bitcoin asset. This campaign features top organizations across the Bitcoin ecosystem, emphasizing their commitment to advancing the utility and accessibility of Bitcoin. By aligning with industry leaders, the Stacks Foundation seeks to educate the community about the transformative potential of sBTC and its role in activating a robust Bitcoin economy.

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