Cardano Founder Says Bitcoin On ADA Could Trigger Open DeFi Floodgates For Billions

Cardano (CRYPTO: ADA) is trading around $0.79, down 0.6% on Tuesday as founder Charles Hoskinson told an audience that the network is preparing to integrate Bitcoin functionality, potentially drawing billions in liquidity.

Cardano Founder Unveils Bold Bitcoin DeFi Vision

Charles Hoskinson said a dedicated 19-person team is developing “Bitcoin DeFi,” which would let users transact directly in Bitcoin (CRYPTO: BTC), pay fees in Bitcoin, and earn yield back in Bitcoin using Cardano infrastructure.

“We anticipate billions of dollars of TVL from the Bitcoin network as people click the toggle and use Cardano to do Bitcoin things,” Hoskinson said.

UTXO Edge Sets Cardano Apart From Rivals

Hoskinson said Cardano’s extended UTXO framework makes it the “largest …

Full story available on Benzinga.com