Fordefi, a leader in blockchain technology, has taken a monumental step by becoming the first MPC (Multi-Party Computation) wallet provider to fully integrate Bitcoin DeFi (Decentralized Finance) capabilities, including the new Babylon BTC staking protocol. This integration was announced today from their headquarters in New York, marking a significant development in the evolution of Bitcoin’s Layer 2 solutions.
Innovative Integration for Bitcoin DeFi
The integration enables Fordefi clients to conduct transactions seamlessly either through a multi-chain browser extension or via an API, all secured by policy-protected workflows and MPC signing technology. This pioneering move extends Fordefi’s capabilities beyond simple cryptocurrency holdings and transfers, allowing for full-fledged DeFi activities with Bitcoin.
Dima Kogan, Cofounder and CTO of Fordefi, stated, “Our mission has always been to bring full DeFi capabilities to every chain we support. Today, we’re excited to announce that we’re extending our Bitcoin support to include comprehensive DeFi activities. This means institutions can now seamlessly and securely deploy BTC into a wide range of DeFi applications, using the same powerful tools and protections we offer across all chains.”
First Institutional MPC Wallet Solution for Bitcoin DeFi
Fordefi’s integration of sophisticated cryptographic tools such as Taproot scripts, PSBT (Partially Signed Bitcoin Transactions), and Schnorr signatures ensures a secure and robust framework for connectivity in Bitcoin DeFi. This setup not only sets a new standard for institutional participation in the Bitcoin ecosystem but also pioneers secure and expansive Bitcoin DeFi activities.
Launching Support for Babylon BTC Staking
Alongside its innovative wallet solutions, Fordefi now supports the Babylon protocol, which allows users to stake their Bitcoin and engage in proof-of-stake systems to earn rewards. These activities contribute to network security and transaction validation, offering users not only the benefit of earning through staking but also enhancing the overall stability of the Bitcoin network.
Ernest Oppetit, Cofounder and CPO at Kiln, commented on the partnership with Fordefi: “One of Fordefi’s strengths is their ability to stay at the forefront with new network support, as demonstrated by the Babylon mainnet release. At Kiln, we’re excited to partner with them to offer BTC staking via Kiln’s finality provider.”
Enhanced User Experience through Multi-Chain Browser Extension
Fordefi’s multi-chain browser extension acts as a gateway to Bitcoin DeFi, providing a user-friendly and secure interface for managing digital assets across various blockchains. This tool leverages Fordefi’s policy engine and MPC signing to ensure all transactions are executed with the highest security and compliance standards.
About Fordefi
Founded in 2021, Fordefi is at the forefront of financial technology and software, providing an all-in-one solution for digital assets management. The Fordefi MPC wallet and security platform offer native connectivity to dozens of blockchains, self-serve policy controls, smart contract address verification, transaction simulation, and real-time risk alerts, supported by a comprehensive suite of APIs and SDKs.
