Web3 infrastructure provider Elastos has secured a $20 million investment as part of its commitment to expanding DeFi services on the Bitcoin market. This investment highlights the company's efforts to deepen decentralized financial services based on Bitcoin.
Investment from Rollman Management
According to the January 30 announcement, the investment came from Rollman Management Digital, a global investment network that has backed early blockchain projects like Ripple and Ethereum. This move has made Elastos one of Rollman's top five holdings.
Expanding Bitcoin DeFi
Elastos launched its Bitcoin DeFi protocol in the second quarter of 2024. Users can now collateralize their Bitcoin and utilize Ethereum smart contracts for various DeFi functions. Other established players in this space include layer-2 solutions Stacks, RSK, and Babylon, which already host Bitcoin-native ecosystems.
Growing Institutional Interest in Bitcoin
Institutional interest in Bitcoin continues to rise following the approval of spot ETFs in early 2024. Currently, US Bitcoin ETFs hold more than $124 billion. The nomination of pro-crypto Paul Atkins as SEC chair is also seen as a positive step for the industry, fostering clearer regulation and increasing investor confidence.
The secured investment reinforces Bitcoin's strengthening position in the decentralized finance sector. With rising institutional interest and a clearer regulatory landscape, Bitcoin is becoming a key asset in DeFi strategies.
