- Cardano has launched Bitcoin DeFi through Lace Wallet, enabling users to swap BTC for Cardano tokens seamlessly within a single interface.
- The platform is also preparing to integrate XRP, expanding its multi-chain capabilities and cross-chain finance vision.
Cardano Makes Bitcoin DeFi a Reality
In a groundbreaking moment for cross-chain decentralized finance, ADA has officially welcomed Bitcoin DeFi into its ecosystem. Cardano founder Charles Hoskinson praised the milestone after a demo at a Bitcoin conference in Las Vegas showcased the Lace Wallet enabling direct Bitcoin-to-Cardano token swaps. “Welcome to the age of Bitcoin DeFi, brought to you by Cardano,” Hoskinson remarked, underscoring the historic advancement.
The demonstration highlighted a user-friendly experience where Bitcoin holders could swap BTC for Minswap tokens within the Lace Wallet. This seamless integration allows Bitcoin users to engage in DeFi activities like swapping, lending, and trading—without leaving their wallet interface or relinquishing control over their assets.
How It Works: Bitcoin Swaps in Just a Few Clicks
The demo featured a straightforward process: users opened the Minswap DApp inside Lace Wallet, authorized it, and completed a BTC-to-Minswap token swap using Bitcoin to cover transaction fees. Fluid Tokens’ Babel Fee System Handles Fees, Simplifying Cross-Chain DeFi Interactions.
This pioneering tech not only boosts interoperability between Bitcoin and Cardano but also marks one of the first working models of direct Bitcoin integration into a Cardano-based DeFi platform.
Cardinal Protocol and USDC on Bitcoin Join the Mix
Cardano’s IOG CTO Romain Pellerin Announces Cardinal Protocol to Enable USDC on Bitcoin in ADA Smart ContractsThe feature will also leverage the Midnight privacy protocol for compliant confidentiality, further broadening Cardano’s DeFi toolkit.
This aligns with Cardano’s broader collaboration with BitcoinOS, aiming to bring smart contract functionality to Bitcoin developers through Cardano’s secure infrastructure.
XRP Support Coming to Lace Wallet
Cardano’s cross-chain vision doesn’t stop with Bitcoin. During a recent AMA, Hoskinson confirmed that XRP will soon be integrated into the Lace Wallet. This will allow users to store, send, and receive XRP alongside Bitcoin and Cardano assets, cementing Lace as a leading multi-chain wallet solution.
With Bitcoin DeFi going live and XRP support on the horizon, Cardano continues to evolve into a powerful hub for decentralized, cross-chain finance.
