How does Abra utilize wrapped Bitcoin tokens like TBTC to serve its clients?
Replied byBill Barhydt
Founder & CEO at Abra
Niche: Cryptocurrency
Revenue: Approx. 3 Million USD/month
Location: Mountain View, California, United States
Started: 2014
Since Ethereum cannot natively understand Bitcoin, we use wrapped Bitcoin tokens like TBTC or WBTC. These act as stablecoins representing the underlying Bitcoin held in custody. We wrap the Bitcoin so clients can borrow against it, earn yield, or stake assets within the Ethereum DeFi ecosystem.
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