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UXUY integrates Bitcoin Lightning Node, plans to boost Bitcoin DeFi

UXUY integrates Bitcoin Lightning Node, plans to boost Bitcoin DeFi © Reuters.

In a move to connect to various ecosystems like and BNB chains, decentralized exchange (DEX) UXUY has implemented a Bitcoin Lightning Node on Friday. The integration was made possible through its GasPool solution, which also operates the Lightning Network node as part of UXUY’s preparation for Bitcoin DeFi Summer.

Unlike centralized exchanges (CEXs) such as Binance and Bitfinex, UXUY is championing the blend of decentralized finance (DeFi) and Bitcoin. This initiative is in line with the company’s plans to expand beyond the Lightning Network’s current asset scale of over 5,000 BTC (US$100 million), a figure that pales in comparison to ‘s (USDT) US$86.6 billion size. The aim of this expansion was emphasized by UXUY co-founder Jordan, who noted the need for growth beyond the current scale.

As part of its strategy, UXUY intends to boost Taproot Assets trading using its BLIP solution. This will be complemented by enhancing multi-chain transactions with uPool, which is expected to cut asset issuance costs in both DeFi and real-world asset (RWA) sectors while aiding project deployment.

Elizabeth Stark, a well-known figure in the crypto space, supports these efforts, pointing out several potential benefits. These include establishing fiat to Bitcoin channels and leveraging Bitcoin liquidity for asset routing. According to Stark, these developments could contribute significantly to the “bitcoinization” of the dollar.

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