Cryptocurrency News

New Partnership with Bitcoin Layer2 Network, B² Network Can Unlock $832 Billion for Bitget Wallet Users

By February 28, 2024 No Comments
B² Network

Leading cryptocurrency wallet Bitget Wallet announced its support for leading Layer 2 solution, B² Network in a move that will boost speeds, security and affordability when transacting Bitcoin assets on the wallet. 

Bitget announced the strategic move in an announcement that described the integration as a frontier for pioneering Bitcoin applications across decentralized finance, derivatives, non-fungible tokens and ordinal inscriptions. 

B² Network, which is the first protocol to support EVM compatibility on the Bitcoin blockchain, wields untapped potential in the BTC ecosystem currently valued at $832 billion. This has positioned the network as a crucial gateway for facilitating cross-chain transactions and investments among users who prefer portfolio diversification, interoperability, faster transactions and security.

By integrating Bitget Wallet with B² Network, users will enjoy a diversity of investment assets, and more protocols to choose from when conducting transactions within the Bitcoin ecosystem. Furthermore, integration with the Layer 2 solution is a strategic move for Bitget Wallet which is always on the lookout for long-term investment opportunities for its users. The partnership will also provide wallet users the chance to participate in B² Network’s airdrops, a program that the layer 2 solution started testing at the beginning of February.

Many have applauded B² Network’s execution of ZK Rollups on the Bitcoin Network, an innovative plan aimed at bringing smart contracts to the Bitcoin ecosystem. One of those who applauded the network is Bitget’s Chief Operations Officer Alvin Kan while talking about the new integration. According to Kan, bringing B² Network to Bitget Wallet will ultimately result in faster and more secure execution of Bitcoin and Ethereum transactions, he also emphasized the wallet’s central role in facilitating innovation in the blockchain space by stating, “We keep engaging in Bitcoin ecosystem development, support and collaborate with Bitcoin protocols and Layer 2 networks, providing users with new assets and opportunities”

Recently, Bitget has proved its resilience and commitment to its users by announcing more than 20 partnerships with Layer 2 networks and protocols in the Bitcoin ecosystem. Adding to that, the wallet has positioned itself as an innovative player in the space by pioneering new swap transactions, new implementations for ARC20 formats, and OTC solutions. Aside from that, Bitget Wallet also made updates to its launchpad which is currently supporting new projects on the Lightning network, BRC-20 assets and innovative Layer 2 networks. By expanding the range of its launchpad’s initial offerings solutions, the wallet’s mission is to facilitate portfolio diversification and a range of networks for conducting DEFI transactions via Bitget Exchange’s custodial wallet.