Ton introduces Bitcoin liquidity to Telegram with trustless cross-chain bridge
The Open Network (TON) launched a trustless cross-chain bridge, TON Teleport BTC, to integrate Bitcoin liquidity into its ecosystem. This bridge allows Bitcoin to operate as a tokenized asset, tgBTC, enabling transactions within Web3 mini-apps like EVAA and STON.Fi on Telegram. It eliminates the need for exchanges or custodians, facilitating streamlined Bitcoin transactions. The integration aims to enhance Bitcoin activities on TON by driving liquidity and trading, creating arbitrage opportunities and promoting active trading. Users can mint and withdraw tgBTC through a two-step peg-in and peg-out process. TON has gained significant traction in 2024, with Telegram using it for ad revenue payments and the rise of crypto gaming on the platform contributing to its growth.
