BitSmiley to Launch BitUSD, a Multi-Chain Stablecoin to Enhance DeFi Liquidity
CryptoNewsTerminal Staff08 Aug, 2024
BitSmiley to Launch BitUSD, a Multi-Chain Stablecoin to Enhance DeFi Liquidity
BitSmiley to Launch BitUSD, a Multi-Chain Stablecoin DeFi Bitcoin project BitSmiley announced plans to launch its own multichain stablecoin, BitUSD. This stablecoin aims to address the issue of low transaction demand on the Bitcoin layer-2 by introducing BTC liquidity to various chains. BitUSD: Bridging the Gap in DeFi BitUSD will be backed by native BTC and LSTBTC as collateral. By utilizing this approach, it can maintain its stability while facilitating seamless transactions across multiple blockchains. This will enable users to leverage the benefits of DeFi on different platforms, fostering greater interoperability and financial flexibility within the cryptocurrency ecosystem. BitSmiley's initiative to introduce BitUSD is a significant step towards enhancing the accessibility and utility of Bitcoin in the DeFi landscape. By providing a stable and cross-chain medium for BTC liquidity, it opens up new possibilities for DeFi innovation and adoption.
