PRESS RELEASE. BTC Proxy, the Bitcoin Liquidity Protocol on Polygon, has entered into a strategic partnership with Blockchain.com, one of the world’s largest crypto platforms and an early pioneer of key Bitcoin infrastructure. As part of the partnership, Blockchain.com will add BTC Liquidity into the Proxy ecosystem by Minting BTCpx. Moving Bitcoin to the Polygon network will expand the DeFi ecosystem and provide reward opportunities for users.
BTC Proxy believes it has solved a real pain point with Bitcoin by creating a mechanism of interoperability to access stored value from long-term holders without sacrificing safety through the use of qualified custodians. This tokenized volume can then be utilized to provide liquidity and drive value to all the networks involved.
BTCpx is the tokenized receipt of Bitcoin (BTC) that has been deposited into a qualified custodian. In this arrangement, the BTCpx is used to navigate through carefully crafted and sustainable reward programs whilst keeping the Bitcoin under multiple layers of security and allowing for even…