From Investing.com: 2024-06-28 10:00:40

Elastos partners with BEVM to offer native peer-to-peer loans, aiming to unlock $1.3 trillion of dormant Layer 1 Bitcoin value. The partnership will allow users to collateralize up to 80% of their assets for L2 credit in stable coins based on Bitcoin-assured smart contracts, maintaining currency integrity through BeL2’s ZK-proof process.

BEVM collaborates with Elastos to develop a BTC Oracle, monitoring and analyzing Bitcoin-based activity in real-time. The BeL2 protocol enables Bitcoin users to manage relationships through staking, smart contracts, and multi-party agreements denominated directly in Bitcoin. This partnership comes as US tech-savvy consumers increasingly trust and transact in Bitcoin, according to the Elastos’ BIT Index.

The Elastos’ BIT Index reveals growing excitement among US consumers for Bitcoin, with 63% of tech-savvy users feeling comfortable or excited about transacting in the digital currency. Over half of US respondents use Bitcoin monthly, for savings, online purchases, money transfers, inflation hedging, and banking cost reduction. There is a shift towards broader adoption and trust in Bitcoin as a medium of exchange.

Read more at Investing.com: Elastos Partners with BEVM and US BIT Index By Chainwire