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📌 Notes
Hashtag #MyCryptoFunnyMoment is requi
Threshold Network upgrades the tBTC bridge to link institutional Bitcoin with DeFi
The Threshold Network has just upgraded the tBTC bridge to help institutional investors easily use Bitcoin in the decentralized finance (DeFi) sector. The new system allows ETF funds, hedge funds, and custodians to deploy Bitcoin to earn profits without needing to withdraw from the managed and insured vault. The upgrade creates a direct connection between custodians and the tBTC protocol, allowing for instant minting and exchanging of tokens without gas fees.
According to CEO MacLane Wilkison, the approval of a spot ETF in the U.S. has significantly boosted institutional demand, with over 400 billion USD Bitcoin currently held by them. The tBTC bridge supports multiple blockchains such as Ethereum, Arbitrum, Polygon, and Optimism. Currently, Threshold has processed over 4.2 billion USD and holds 640 million USD in total value locked, ranking third in the Bitcoin DeFi space.