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Binance Labs Invests in Zest Protocol for On-Chain Bitcoin Lending

Binance Labs invests in Zest Protocol for on-chain Bitcoin lending, unlocking programmability and interoperability potential on Stacks Blockchain.

Binance Labs, the venture arm of Binance, has invested in Zest Protocol, facilitating on-chain Bitcoin lending on Stacks Blockchain.

Highlights:

  • Binance Labs invests in Zest Protocol for on-chain Bitcoin lending.
  • Zest Protocol enables transparent, permissionless lending on Stacks Blockchain.

Binance Labs, the investment and incubation wing of Binance, has announced its support for Zest Protocol, a platform facilitating on-chain lending of native Bitcoin on the Stacks Blockchain. This partnership marks a significant move towards enhancing Bitcoin’s programmability and interoperability, catering to the needs of both Bitcoin holders and borrowers.

The collaboration aims to revolutionize the landscape of Bitcoin lending by bringing it on-chain, ensuring transparency and permissionless access to lending services. Zest Protocol’s innovative approach aligns with the ethos of decentralization and transparency that underpins blockchain technology, offering users a seamless experience for lending and borrowing Bitcoin assets.

Partners’ Perspectives on the Collaboration

Yi He, Co-Founder of Binance and Head of Binance Labs, expressed enthusiasm about the partnership, emphasizing Zest Protocol’s role in unlocking Bitcoin’s potential for programmability and interoperability. He highlighted Binance Labs’ commitment to identifying pioneering initiatives that shape the industry and anticipated the acceleration of Zest Protocol’s growth with the upcoming Nakamoto upgrade on Stacks Blockchain.

Tycho Onnasch, Founder of Zest Protocol, echoed the sentiment, affirming the mission to redefine Bitcoin lending by transitioning it onto the blockchain. He emphasized the significance of on-chain lending for Bitcoin, emphasizing its alignment with the protocol’s inherent principles and the broader vision of decentralized finance (DeFi).

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