Bitlayer Taps Chainlink CCIP for Secure Cross-Chain Transfers
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Bitlayer Integrates Chainlink CCIP for Cross-Chain Functionality
Bitlayer, a Bitcoin layer 2 network, has adopted Chainlink's Cross-Chain Interoperability Protocol (CCIP) as its new standard for cross-chain transfers between Bitlayer and Ethereum. This move aims to enhance the security and efficiency of asset transfers between the two ecosystems.
Key Benefits of CCIP Integration
- Secure Asset Transfers: CCIP now facilitates the secure transfer of key assets, including Bitlayer's native token BTR, USDC, USDT, ETH, and wstETH.
- Enhanced Liquidity: The integration is expected to boost liquidity within the Bitlayer ecosystem by making it easier to move assets between chains.
- Expanding Bitcoin DeFi: By improving cross-chain capabilities, Bitlayer aims to foster growth in Bitcoin decentralized finance (DeFi) applications.
Future Developments
Bitlayer plans to further leverage Chainlink CCIP by making YBTC, its Bitcoin-pegged asset, cross-chain native. This will be a key milestone in expanding the functionality and utility of the Bitlayer network.