According to Odaily Planet Daily, the Nomic DAO Foundation, the development team behind Nomic Network, announced the launch of nBTC, a 1:1 Bitcoin-backed token on the Ethereum-compatible L1 network Berachain.
Nomic previously upgraded Ethereum, making nBTC natively available as an ERC token on Ethereum and able to be deployed on EVM-compatible chains.
The team said this integration allows users to deposit BTC directly to obtain nBTC, bringing Bitcoinâs massive liquidity into Berachainâs ecosystem and enhancing Bitcoinâs capabilities in Berachainâs growing ecosystem.