According to TechFlow, Bitcoin mining company Marathon Digital is seeking to work with blockchain developers to build a Bitcoin L2 cross-border payment solution. Julian Duran, the company’s head of sidechain products, revealed this information at the Bitcoin 2024 conference on July 26.
Duran said cross-border payments are "the biggest use case for blockchain, and Bitcoin in particular." He noted that in emerging markets, the average cost of sending money overseas is 8% to 10% of the transaction value, and settlements typically take 3-4 days. In contrast, Bitcoin transfers are typically completed within 10 minutes, and second-layer solutions could be even faster.
Marathon is also focusing on the real asset tokenization (RWA) space, having started plans to tokenize whiskey barrels in the United States and working with an RWA platform to protect French castles.
It is worth noting that Marathon is one of the largest corporate holders of Bitcoin, with a reserve of approximately 20,000 Bitcoins, valued at over $1 billion. In July alone, the company purchased approximately $100 million worth of Bitcoin.
