Stacks, the leading Bitcoin (BTC) Layer-2 (L2) network for BTC-oriented decentralized finance (DeFi), has announced that its sBTC token has been adopted by a number of institutional clients, as detailed to Finbold on Thursday, February 27.
sBTC’s next major milestone will be the launch of its withdrawal functionality, which is scheduled for March 2025.
sBTC adoption
As a decentralized, Bitcoin-backed, programmable asset, sBTC is designed to bring additional flexibility to the BTC ecosystem.
Early sBTC adopters included UTXO, SNZ, Jump Crypto, Sypher Capital, and Asymmetric Research, all part of the initial deposit cap.
The rapid demand for sBTC soon led to a second cap raise, tripling the deposit capacity.
Fully subscribed within just 24 hours, the second cap signaled a surge in interest among all kinds of investors, most notably Zest Protocol, which has so far accumulated nearly 40% of the total sBTC in circulation.
The growing demand for tokenized Bitcoin asset
We współpracy z: https://finbold.com/stacks-sbtc-token-sees-increasing-adoption/
