Bifrost Announces Support for btcUSD on Coinbase Custody

IconCryptoNewsTerminal Staff25 Jul, 2024

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Bifrost Announces Support for btcUSD on Coinbase Custody

Bifrost (BFC) recently announced its support for its Bitcoin-backed stablecoin, $btcUSD, on Coinbase Custody, a Layer 2 network by Coinbase. This integration enables users to hold and manage $btcUSD seamlessly within the secure and regulated environment of Coinbase Custody. Bifrost's $btcUSD is a fully collateralized stablecoin pegged to the value of Bitcoin. By integrating with Coinbase Custody, Bifrost aims to enhance the accessibility and security of its stablecoin for institutional and individual investors alike. Coinbase Custody provides advanced security measures, including offline storage, multi-factor authentication, and rigorous compliance protocols. This integration allows Bifrost to leverage Coinbase's robust infrastructure to ensure the safety and integrity of $btcUSD. The integration is expected to broaden the adoption of Bifrost's $btcUSD stablecoin and contribute to the growth of the decentralized finance (DeFi) ecosystem.

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