Cardano DeFi will access $1.3 trillion in Bitcoin equity through BitcoinOS Partnership

EMURGO, the blockchain project advancing the adoption of Web3 on the Cardano blockchain, announced a strategic partnership with BitcoinOS (BOS), a smart contract operating system built for Bitcoin.

The latest move aims to give Cardano DeFi users access to Bitcoin capital, valued at $1.3 trillion, without relying on third-party intermediaries.

The first technical collaboration between EMURGO and BitcoinOS involves incorporating the BOS Grail bridge into Cardano’s open source blockchain framework. It uses BOS’s BitSNARK verification protocol, which leverages zero-knowledge technology, to enable the secure and trustless transfer of Bitcoin (BTC) and associated assets to Cardano.

With this development, Cardano becomes the first Layer 1 blockchain to use the scalability and programmability of BOS for Bitcoin, allowing DeFi dApps such as Fluid Tokens to incorporate trustless BTC functionality for their users .

In an official statement, EMURGO founder and CEO Ken Kodama said:

“This collaboration with BitcoinOS has the potential to unlock new cross-chain capabilities and further strengthen Cardano by giving Cardano users, projects and developers secure and trustless access to the Bitcoin ecosystem. Supporting a Web3 environment more open and interconnected across different blockchains helps drive innovation and adoption of DeFi and other decentralized solutions.”

On the pricing side, ADA continued to trade underwhelmingly. Despite signs of a bullish reversal, the crypto asset is down more than 11% in the past month and is currently trading below $0.35.

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