After two years of development, Polkadot parachain network Interlay walks towards finishing a Bitcoin bridge. The project received a substantial grant from Web3 Foundation in 2020.
) bridge development project on Polkadot, with the launch announcement on its sandbox platform Kusama.
Additionally, Interlay has integrated a Wrapped Bitcoin digital asset, known as kBTC, on their Canary parachain Kintsugi. The asset is already available for trading on two other Polkadot parachains — Karura, governed by Acala, and Moonriver, governed by Moonbeam. It is expected that Interlay will seek to deploy its technology across both Cosmos and Ethereum during the coming year to enhance interoperability between chains.. kBTC is a 1:1 BTC-backed asset on Kusama, maintained by a decentralized network of collateralized vaults. KSM will be the first of many collateral to secure kBTC❗️
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