Interlay Unveils New Platform to Revolutionize Bitcoin DeFi

• Interlay has launched a Polkadot-integrated platform poised to revolutionize Bitcoin DeFi.
• Interlay’s CEO, Alexei Zamyatin, shares the vision of the platform, encompassing a variety of tokens for global financial inclusion.

A One-on-One with Interlay’s CEO

As blockchain project Interlay steps into the limelight with its latest Bitcoin DeFi platform, Coindesk.com sit down with CEO and Co-founder Alexei Zamyatin, to delve into this groundbreaking integration with Polkadot.

“Our platform serves as a one-stop-shop for Bitcoin DeFi. By merging a decentralized exchange (DEX) and a lending protocol, we are creating a landscape where Bitcoin’s role in DeFi is revolutionized,” says Zamyatin.

📣 #DeFi innovation alive and well on Polkadot!

Parachain @interlayHQ has pushed its one-stop DeFi hub live. Momentum in the Polkadot ecosystem is on a roll, both with Web3 native teams and enterprise adoption.https://t.co/DKsAj8HNJd

— Polkadot (@Polkadot) July 6, 2023

Breaking Blockchain Barriers

The platform rides on the Polkadot network, leveraging the power of Interlay’s wrapped token, InterBTC (iBTC). Zamyatin sees this as a stride towards transcending the limits of native blockchains.

“We are breaking down the barriers of blockchains with InterBTC, synthesizing and utilizing tokenized versions of crypto assets beyond their native blockchains.”

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Filling the Crypto Exchange Void

With the closure of peer-to-peer exchanges like LocalBitcoins and Paxful, and regulatory issues faced by major exchanges like Binance and Coinbase, Interlay’s platform offers a fresh and reliable avenue for Bitcoin transactions.

“In the wake of closures and regulatory concerns, our platform unlocks additional Bitcoin functionality and serves as an alternative to centralized exchanges,” Zamyatin explains.

Diversity and Inclusion in DeFi

Beyond Bitcoin, the platform embraces an array of tokens, including USDT, DOT, and INTR, with plans to include liquid staking tokens and possibly Ethereum and Cosmos assets.

“We are catering to a global financial inclusion. The variety of tokens might unsettle some Bitcoin purists, but this broad offering is vital for our goal – bringing Bitcoin to a billion users worldwide,” Zamyatin highlights.

Conclusion

Zamyatin’s enthusiasm for Interlay’s Polkadot-integrated platform is infectious. It is clear that the integration aims to provide a comprehensive DeFi experience, housing the best of DeFi in one accessible, inclusive platform. In his own words, “We are here to redefine cross-chain interactions, incorporating the best of DEXs and liquidity and lending protocols, to set a new standard for Bitcoin DeFi.”

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