Picture this: you want to take a loan against your Bitcoin or swap it straight to a dollar stablecoin without wrapping anything or using a bridge.
That's been a painful gap for years. Plenty of traders have gotten rugged on $WBTC or lost funds in exploits while waiting for native options that never quite arrived.
Utexo, backed by Tether, plans to bring Bitcoin-native $USDT back this month after securing a license. They are adding private transfers, direct $BTC and $USDT swaps, and loans using native Bitcoin as collateral.
This echoes the old Omni Layer version of USDT on Bitcoin that Tether abandoned because it was too slow. Unlike custodial wrappers, the goal here is staying fully native.
Similar attempts on other Bitcoin layers never had this kind of backing. The license might be what separates it from past flops.
Where do you think this goes from here compared to those earlier Bitcoin stablecoin experiments?
#Bitcoin #USDT #DeFi
That's been a painful gap for years. Plenty of traders have gotten rugged on $WBTC or lost funds in exploits while waiting for native options that never quite arrived.
Utexo, backed by Tether, plans to bring Bitcoin-native $USDT back this month after securing a license. They are adding private transfers, direct $BTC and $USDT swaps, and loans using native Bitcoin as collateral.
This echoes the old Omni Layer version of USDT on Bitcoin that Tether abandoned because it was too slow. Unlike custodial wrappers, the goal here is staying fully native.
Similar attempts on other Bitcoin layers never had this kind of backing. The license might be what separates it from past flops.
Where do you think this goes from here compared to those earlier Bitcoin stablecoin experiments?
#Bitcoin #USDT #DeFi
