TechFlow News – On December 14, OKX Ventures announced a strategic investment in bitSmiley, a stablecoin protocol on the BTC ecosystem that enables users to over-collateralize native BTC on the Bitcoin network to mint the stablecoin bitUSD. In addition, bitSmiley includes lending and derivatives protocols, aiming to build a new financial ecosystem for Bitcoin. Previously, bitSmiley was selected as a top project in the BTC Hackathon co-hosted by ABCDE and OKX Ventures this past November.
Dora, founder of lead investor OKX Ventures, stated: "As the native foundation of trust in the crypto industry, Bitcoin is not only the ultimate value benchmark but also represents native innovation within the crypto space. Fueled by BRC-20 and Ordinals, a wave of technological advancements—including the Lightning Network, Stacks, RGB, Taproot, EVM Layer2, and bitVM—are rapidly evolving. Built on the Fintegra framework, the stablecoin protocol bitSmiley has demonstrated strong competitiveness in the stablecoin arena. We look forward to its upcoming testnet launch next quarter, which will unlock infinite possibilities for expanding DeFi and other use cases within the Bitcoin ecosystem."
