Threshold: Upgraded bridge to funnel $500B institutional BTC into DeFi
Threshold has introduced upgrades to its tBTC bridge, which it claims will better position the $500 billion worth of Bitcoin held by institutions and whales to access DeFi opportunities.
Crypto infrastructure platform Threshold has rolled out a major upgrade for its tBTC bridge, aimed at enticing institutions to put their billions of dollars worth of Bitcoin to work in decentralized finance protocols.
Threshold’s latest upgrade now enables institutions to mint tBTC directly to supported chains in a single Bitcoin (BTC) transaction, without secondary approvals and without gas fees, while redemptions back to the Bitcoin network are equally as straightforward, Threshold said in a statement.
Threshold’s head of marketing, Rizza Carla Ramos, went into more depth in an interview with Cointelegraph at the Web Summit in Lisbon this week, explaining that the feature improvements could incentivize more Bitcoin-holding institutions to put their BTC to work in DeFi instead of just letting it sit there and waiting for it to appreciate: