In addition to WBTC, BitGo also brought Wrapped Ethereum (WETH).
With WBTC thriving on Ethereum s network alongside DeFi, the hope is that it will also help DeFi grow on Tron.
Several months ago, BitGo and Tron teamed up to bring Wrapped Bitcoin (WBTC) to the Tron network. Tron wanted to bring the coin to its ecosystem due to its major role in helping DeFi kickstart on Ethereum. Now, BitGo finally launched WBTC, and more than that it also brought Wrapped Ether (WETH).
WBTC and WETH arrive at Tron blockchain
With this move, the Bitcoin-pegged DeFi token finally emerged on its second blockchain. The move is huge for Tron, and a number of BitGo clients already started minting both tokens as TRC-20 tokens within the TRON ecosystem.
Place/Date: SAN FRANCISCO, CA - January 6th, 2021 at 8:17 am UTC · 3 min read
TRON, one of the largest and most popular blockchain-based operating systems in the world, together with BitGo, the leader in digital asset financial services, have successfully launched Wrapped Bitcoin (WBTC) and the newly minted Wrapped Ether (WETH) on the TRON blockchain as TRC20 tokens.
Wrapped Bitcoin (WBTC) is pegged to Bitcoin and has over $3B worth of Bitcoin in custody, while Wrapped Ether (WETH) is pegged to Ether. BitGo is the sole custodian for the underlying BTC and ETH. This allows participating merchants to tokenize their assets by minting Wrapped Bitcoin and Wrapped Ether. Wrapped Bitcoin and Wrapped Ether users will be able to utilize BTC/ETH in a wide variety of new use cases in the TRON ecosystem. These options include supporting collateral for stablecoins, enabling trading on decentralized exchanges (DEXs), facilitating payments, and more.
Wrapped Bitcoin (wBTC) finally arrives at TRON
December 29, 2020
Tron CEO, Justin Sun, recently announced on Twitter that Wrapped Bitcoin is now available on TRON.
The DeFi version of BTC arrived after TRON and BitGo announced their partnership a few months back.
When it emerged on Ethereum, WBTC helped kickstart the growth of DeFi, which might happen on TRON, too.
While the end of 2020 may be all about Bitcoin (BTC), the majority of the year was marked by a massive development of the DeFi sector, which is still on-going.
Countless investors moved to projects focusing on decentralized finance, while development platforms did everything in their power to attract developers and users to their network.
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