BTCFi protocols are gaining traction ahead of the anticipated Bitcoin halving event on April 19. Can they match Ethereum-native DeFi in the future?
Binance Labs, the venture capital (VC) arm of the world’s largest cryptocurrency exchange, has announced an investment in Bitcoin-native restaking protocol BounceBit.
BounceBit merges centralized finance (CeFi) and decentralized finance (DeFi) features in an effort to create more utility for Bitcoin (BTC), wrote Yi He, co-founder of Binance and head of Binance Labs, in an April 11 announcement:
BounceBit is among a new wave of protocols aiming to bring DeFi capabilities to Bitcoin, in a new technological paradigm known as Bitcoin DeFi (BTCFi).
