The Open Network (TON) has introduced a trustless cross-chain bridge named TON Teleport BTC. This bridge aims to integrate Bitcoin liquidity into its ecosystem by enabling Bitcoin to function on Telegram as a tokenized asset, tgBTC. Users can now hold and transact Bitcoin within Web3 mini-apps, eliminating the need for exchanges or custodians.
This development will enhance connectivity and utility within the TON ecosystem and Telegram audience. The tokenized Bitcoin, tgBTC, creates arbitrage opportunities across platforms, promoting active trading and combining Bitcoin’s liquidity with TON’s DeFi infrastructure. Users can mint and withdraw tgBTC through an automated two-step process involving peg-in and peg-out mechanisms.
Source
<p>The post Introducing TON Teleport BTC: Unlocking Bitcoin Liquidity & Connecting TON Ecosystem for Enhanced Utility. first appeared on CoinBuzzFeed.</p>
