Osmosis, the premier cross-chain hub, announces a strategic partnership with Omnity Network to bring cross-chain Bitcoin (ckBTC) to Cosmos Ecosystem. This partnership is a groundbreaking milestone for the decentralized finance (DeFi) space. This trailblazing news was shared with the DeFi community through social media platform, X.
Hello Cosmos @osmosiszone and @OmnityNetwork have announced a partnership to bring ckBTC to the premier DEX in @cosmos Powered by #ICP's Chain Fusion tech, this collab unlocks secure cross-chain Bitcoin transfers and enhances BTC liquidity and interoperability across DeFi pic.twitter.com/u7IJDWhmBG
— DFINITY (@dfinity) September 18, 2024
This collaboration employs the Chain Fusion Technology of Internet Computer Protocol (ICP) to enable safe Bitcoin ($BTC) transfer inter-blockchains. Additionally, it’ll ultimately boost the $BTC liquidity and make it easier for Bitcoin to operate across different decentralized finance (DeFi) platforms.
Chain Fusion Powers Seamless Bitcoin Transfers and Expands DeFi Access
This strategic collaboration of Osmosis with Omnity Network is powered by Chain Fusion of Internet Computer Protocol (ICP) that offers scalable, efficient, and secure cross-chain transactions. Chain Fusion will play a pivotal role in the Osmosis-Omnity Network collaboration to enable seamless and secure Bitcoin inter-chain transactions.
Through this collaboration, Osmosis and Omnity Network are unlocking new features for the DeFi community. Mainly, both FinTech firms are aimed at bringing ckBTC to Cosmos to open new avenues for $BTC holders to engage with the DeFi space in an advanced and dynamic way.
How Does Osmosis Benefit DeFi Community by Partnering with Omnity Network?
This partnership is unique of its kind, showing a significant step toward achieving full interoperability in the DeFi space. Because of that, now $BTC holders will be able to transfer their crypto assets across multiple chains easily and securely. Moreover, because of this strategic collaboration, now Bitcoin ($BTC) will be more accessible to the crypto community within the Cosmos Ecosystem.
