Flashnet, Brale, and Magic Eden have joined forces to launch the USDB stablecoin on Bitcoin, opening new opportunities for decentralized finance (DeFi).
Launch of USDB on Bitcoin
The collaboration between Flashnet, Brale, and Magic Eden has led to the creation of USDB within the Bitcoin ecosystem. The launch aims to develop the first native and non-custodial dollar stablecoin, marking a significant step forward in DeFi development on the Bitcoin platform.
Impact on DeFi and Liquidity
The creation of USDB is expected to implement BTC-USDB liquidity pools without using Ethereum bridges. This should increase the total value locked (TVL) on Bitcoin and expand the opportunities for financial transactions within the network.
Initial Investments and Prospects
Flashnet's seed round is backed by significant players from fintech and the investment sector, highlighting a growing interest in a sustainable financial ecosystem native to Bitcoin, which also allows avoiding third-party involvement.
With the launch of USDB in the Bitcoin ecosystem, new horizons open up for DeFi, providing a potential for more sustainable and transparent interactions within the network.
