TechFlow reports that Bitcoin mining company Marathon Digital is seeking to collaborate with blockchain developers to build a Bitcoin L2 cross-border payment solution. Julian Duran, the company's head of sidechain products, revealed this during the Bitcoin 2024 conference on July 26.
Duran stated that cross-border payments represent "the biggest use case for blockchain, especially for Bitcoin." He noted that in emerging markets, the average cost of remittances is 8% to 10% of the transaction value, with settlements typically taking three to four days. In contrast, Bitcoin transactions usually settle within 10 minutes, and Layer 2 solutions could be even faster.
Marathon is also focusing on the tokenization of real-world assets (RWA), having initiated plans to tokenize whiskey barrels in the U.S. and partnered with an RWA platform to preserve a French castle.
Notably, Marathon is one of the largest corporate holders of Bitcoin, with approximately 20,000 BTC in reserves—worth over $1 billion. In July alone, the company purchased around $100 million worth of Bitcoin.
