Multichain Bridge Integrates With RSK to Enhance DeFi Access on Bitcoin
- With RSK joining the multichain bridge ecosystem, the platforms will join efforts together to enable users to easily their ETH, USDC, BUSD, and other assets between RSK, Ethereum, and BNB Chain.
Decentralized cross-chain router protocol, Multichain has integrated with the RSK network in a bid to encourage exclusive access to DeFi on Bitcoin, following a Monday announcement from the company.
RSK blockchain is a Bitcoin merge-mined smart contracts platform that seeks to facilitate decentralized applications on the bitcoin network. It’s integration with multichain will see the platform providing opportunity for users to bridge their assets between RSK, Ethereum, and BNB Chain.
With RSK joining the multichain bridge ecosystem, the platforms will join efforts together to enable users to easily their ETH, USDC, BUSD, and other assets between RSK, Ethereum, and BNB Chain.
Diego Gutiérrez Zaldívar, the co-founder of RSK expressed his delight on the new development saying, “I’m excited to see Multichain choose to integrate RSK as its first Bitcoin layer 2.”
DeFi for Bitcoin Solution Provider by Multichain and RSK
The new move apparently marks RSK as the first bitcoin-based network to integrate with the Multichain ecosystem. The platform recognises RSK as a home to the fastest-growing DeFi for Bitcoin ecosystem, hence it has sought to combine efforts with it to enable its users enjoy improved use cases while also having access to Bitcoin via the platform.
According to the announcement, multichain’s collaboration with RSK is basically aimed towards enabling a broader and easier entry to DeFi on Bitcoin. Zaldívar acknowledged RSK’s ability to enable the platform to achieve its aim via his comment on the development.
“RSK is home to the fastest-growing DeFi for Bitcoin ecosystem with protocols that are built to last and provide real solutions to the issues users face in centralized finance,” Zaldívar’s comment reads;
Furthermore, Rootstock’s cooperation with Multichain will not only offer exclusive benefits to multichain users, builders leveraging the RSK blockchain also have a lot to enjoy, as it would help them save costs on resources while building capital and the market they tend to address. Moreso, they can easily market the new platforms over a quicker time. Developers building on RSK will have the opportunity to leverage the benefits that come with the continued Multichain bridge improvements and optimizations.
Multichain is not relenting on its efforts to improve the functionalities of its platform while leveraging the benefits that comes with its cooperation with RSK. The platform unveiled that it will further make provisions for several chains and tokens for the RSK network bridging.
In the past two year, the DeFi ecosystem has spearheaded the crypto boom around the world. However, Bitcoin has not been a major player as leading altcoins have demonstrated. For instance, the Ethereum ecosystem has been leading in the total value locked.
Nonetheless, the RSK network is committed to bringing a decentralized financial ecosystem to the largest digital asset by market capitalization and adoption.