On September 22, the digital asset exchange Gate.io officially launched sBTC — this decentralized Bitcoin asset is the core driving force of the Stacks Layer 2 network. Gate.io has over 30 million users, and this move marks the arrival of a larger user base for the Bitcoin Layer 2 ecosystem.
The launch comes at a time when the popularity of Bitcoin DeFi is gradually rising. Earlier this month, Stacks announced the removal of the issuance cap for sBTC, enabling unlimited minting and releasing more liquidity for developers, institutions, and users. Leveraging Gate.io's global reach, sBTC will be able to enter markets in over 100 countries, especially in regions with significant growth potential such as Asia, Latin America, and Eastern Europe.
As an asset fully backed by Bitcoin at a 1:1 ratio, sBTC brings "programmability" to Bitcoin. This means that users can not only engage in lending and yield strategies on the Stacks Layer 2 network but also participate in more DeFi applications that are built on Bitcoin as a secure foundation. With the launch of sBTC on Gate.io, global users will have easier access to these opportunities.
Significance of the Launch
Wider User Reach: With the global layout of Gate.io, sBTC now covers over 100 countries and regions, bringing a new Bitcoin Layer 2 experience to emerging markets in Asia, Latin America, and Eastern Europe.
Enhanced Liquidity and Market Influence: Listing on one of the top ten exchanges globally will provide sBTC with deeper trading depth and better price discovery mechanisms, while also increasing the cross-market visibility of Bitcoin DeFi.
Exchange Endorsement: Previously, Gate.io was one of the earliest exchanges to support STX, and now it is the first to launch sBTC. This not only recognizes the native DeFi of Bitcoin but also further highlights the strategic synergy between Gate.io and the Stacks ecosystem.
Supporting the Developer Ecosystem: Gate.io has integrated the Stacks SIP-010 standard, and its investment department is actively engaging in DeFi projects. The addition of sBTC provides builders with more liquidity entry points and possibilities for product integration.
Andre Serrano, Product Lead at Bitcoin L2 Labs (the core development team of Stacks), stated:
“Gate.io is fully embracing Bitcoin DeFi. From supporting the SIP-010 standard to incorporating sBTC into financial products, this launch further reflects the deep consensus between Gate.io and Bitcoin Layer 2 builders.”
Founded in 2013, Gate.io is one of the oldest cryptocurrency exchanges in the world, renowned for its liquidity, asset diversity, and security. The inclusion of sBTC in the spot market not only solidifies Gate.io's leading position in the emerging blockchain ecosystem but also demonstrates its long-term support for the growth of the Bitcoin Layer 2 ecosystem.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
