Crypto Exchange Kraken launches new Bitcoin products products through integration with the Babylon Labs.
On Thursday announcementCracon said it has partnered with Bitcoin (BTC) Make a deal in Babylon. The integration allows users of exchanges to earn interest on their Bitcoin holdings without bridging, packaging or loans.
Kraken customers can use the service starting today without interacting with non-exchange wallets. Bitcoin is locked in a vault on the Bitcoin blockchain and delegated through the Babylonian protocol to secure a Proof of the Proof of (POS) network.
Rewards are not paid in Bitcoin; users earn Babylonian baby tokens. According to CoinMarketCap, baby prices have risen nearly 5% since the announcement.
Related: Babylonian total value lockdown drops 32% as wallet cancels Bitcoin $1.2B
Bitcoin is in the search for utilities
“Currently, a large amount of bitcoin is idle in our communications,” said Mark Greenberg, head of global consumer at Kraken. According to him, this idle asset represents “a huge opportunity cost for customers and a missed opportunity for the wider ecosystem.”
Greenberg said that through Babylonian integration, customers can now win returns on Bitcoin. He also highlighted how this is how it gains “the added benefit of enabling emerging POS blockchains to benefit from the economic weight of Bitcoin to validate transactions and enhance their cybersecurity.”
Related: Babylonian users cancel $21 million in Bitcoin on doken airdrop
BTCFI sees Renaissance
BTCFI describes financial projects built on Bitcoin. One of the first such developments is arguably the Omni layer, which was launched on July 31, 2013 and was once the only way for mobile Tether’s USDT (USDT) Stablecoin, before creating Ethereum.
Nevertheless, BTCFI mainly refers to recent projects such as Babylon. Babylon is a Bitcoin-secured network that allows Bitcoin holders to place BTC locally without packaging or bridges to ensure the POS blockchain while maintaining control over their assets.
Stagnate through time-locked scripts without mediation. The rewards are derived from 8% inflation per year, distributed to 4% for BTC Stakers and 4% for infant Stakers. Babies can be spent on transaction fees and allow holders to vote on agreement changes.
Other examples of BTCFI include layer 2 blockchain built on the Bitcoin stack, Ethereum virtual machine compatible with Bitcoin SiDechains dootstock and Liquid Network, and scalability solution Lightning Network paired with the markup layer, Taproot Assets.
Reports in early May indicate that smart contract platform base Seeing a sharp improvement in cybersecurity and mining participation in the first quarter of 2025. Research released in April through leading crypto exchange binary companies shows that value in Bitcoin-based decentralized finance has been locked Soaring over 2700% In the past year.
Brendon Sedo, initial contributor to core DAO, March debate Due to the rise of BTCFI, the Bitcoin narrative goes beyond the “digital gold” narrative.
