BTC Proxy Launches on Binance Chain, Offering Interoperability with WBTC and BTCB – Latest Bitcoin News
BTC PROXY, a leading DeFi protocol, has announced its expansion of support for the Binance BNB Chain, along with updates to its support on Ethereum and Polygon for its Bitcoin Proxy ($BTCpx). Starting March 10th, 2023, users will be able to mint and bridge BTCpx to these three networks, fulfilling the vision of enabling the Proxy community to utilize their Bitcoin for DeFi on Polygon, Ethereum, and BNB Chains.
This expansion of BTC Proxy to the three networks allows for the minting of BTCpx tokens using BTC Bitcoin, WBTC ERC20, and Polygon, as well as BTCB BEP20. This is a significant advancement for the Bitcoin DeFi ecosystem, as it opens up the protocol to 19.2 million Bitcoins in circulation, 52,979 BTCb on Binance, and 176,097 WBTC in circulation on Ethereum and Polygon.
BTC Proxy is the only project that offers the usage of insured custody to hold Bitcoin, making it suitable for full…