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NEW YORK – ZetaChain, a blockchain startup, announced a significant expansion into the decentralized finance (DeFi) space with its collaboration with Sushi, a decentralized exchange. This partnership marks a significant milestone in enabling native support for Bitcoin (BTC) and the ability to trade unwrapped BTC across 30 different networks. The announcement comes amid a sharp rise in its price and trading volume, fueled by anticipation of an approved exchange-traded fund (ETF) for bitcoin.
The integration between ZetaChain and Sushi leverages DeFi primitives, which are the fundamental components of DeFi applications, to empower users. This initiative is part of a broader effort by ZetaChain to drive the integration of Bitcoin into DeFi and address network interoperability challenges that have long plagued the cryptocurrency ecosystem.
ZetaChain’s platform stands out for supporting the deployment of smart contracts capable of interacting with native bitcoin. This capability was originally offered by , which has a strong developer community. In contrast, Bitcoin has traditionally seen fewer developers focus on such applications due to its more limited scripting capabilities.
ZetaChain’s Ankur Nandwani highlighted that its layer 1 blockchain is designed to create decentralized applications (dApps) that can seamlessly interact with other blockchains, an essential feature in today’s fragmented blockchain landscape . This development is all the more remarkable given that Ethereum has been the blockchain of choice for dApps due to its extensive support for smart contracts and a large developer base.
The ZetaChain founder acknowledged the role of previous blockchain projects such as Basic Attention Token, Colored Coins and Mastercoin, which paved the way for their current progress. These projects contributed to the fundamental technology and concepts that ZetaChain relies on today.
In addition to its work with Sushi, ZetaChain recently integrated into OKX’s treasury portfolio. This integration, which took place in October, allows Bitcoin users to directly access dApps without needing to leave the Bitcoin network – an important step towards greater accessibility and ease of use in the DeFi sector .
Backed by $27 million in Series A funding from leading investors such as Jane Street Capital, Blockchain.com and Sky9 Capital, ZetaChain is well positioned to continue its efforts to connect different blockchains and bring innovative solutions to the DeFi ecosystem.
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