Fireblocks & BOB - MPC Wallet within BTC DeFi
BOB integrates Fireblocks’ MPC wallet into its BTC DeFi ecosystem, leveraging BitVM for secure, trust-minimized Bitcoin transactions. This partnership enables institutions to participate in BTC DeFi without relying on custodial solutions.
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BOB announces Fireblocks integration to provide institutions with access to BTC DeFi
BitVM is a mechanism to execute arbitrary programs on Bitcoin in an optimistic manner: the execution happens off-chain but in case of failures, disputes are resolved and enforced on-chain. Think Optimism, but on Bitcoin. The two main use cases are Bitcoin rollups and trust-minimized bridges. In both cases, we want to allow users to deposit and withdraw BTC from an L2 without trusting a 3rd party. With BitVM we can ensure BTC deposits cannot be stolen as long as there is a single honest and online node in the network - this node can be the depositor herself.