- Binance Labs has announced its investment in Zest Protocol, an on-chain Bitcoin lending infrastructure on the Stacks Blockchain.
- The partnership aims to enable users to lend or borrow local Bitcoin with transparent returns in a permissionless manner.
- “We are excited to redefine Bitcoin lending with Binance Labs,” said Tycho Onnasch, Founder of Zest Protocol.
Binance Labs invests in Zest Protocol to introduce on-chain Bitcoin lending on the Stacks Blockchain, aiming to redefine Bitcoin lending markets.
Binance Labs Invests in Zest Protocol
Binance Labs, the venture capital and incubator arm of Binance, has invested in Zest Protocol, an on-chain Bitcoin lending infrastructure on the Stacks Blockchain. This partnership aims to enable users to lend or borrow local Bitcoin with transparent returns in a permissionless manner, paving the way for a new era in Bitcoin lending.
Reimagining Bitcoin Lending
Tycho Onnasch, Founder of Zest Protocol, expressed his excitement about the partnership, stating, “We are excited to redefine Bitcoin lending with Binance Labs. We are here to complete the long overdue task of moving Bitcoin lending markets where they belong, on-chain.”
Unleashing Bitcoin’s Potential
Yi He, Co-Founder and Head of Binance Labs, spoke about the potential of Zest Protocol’s technology to meet the needs of Bitcoin owners and borrowers, thereby unveiling the programmability and interoperability potential of Bitcoin. “At Binance Labs, we are always looking for the first moves that will shape the industry, and we are eagerly awaiting to witness how the Nakamoto upgrade of Stack will boost the growth of Zest Protocol,” He said.
Conclusion
This investment by Binance Labs in Zest Protocol signifies a significant step towards redefining Bitcoin lending markets. By enabling on-chain Bitcoin lending, this partnership aims to bring transparency and permissionless access to Bitcoin lending, potentially revolutionizing the way Bitcoin owners and borrowers interact.
