Gate.io launches sBTC, providing Bitcoin Layer 2 access for over 30 million users worldwide

On September 22, the digital asset exchange Gate.io officially launched sBTC ------ this decentralized Bitcoin asset is the core driving force of the Stacks Layer 2 network. Gate.io has over 30 million users, and this move marks the arrival of a larger user base for the Bitcoin Layer 2 ecosystem.

The launch comes at a time when the popularity of Bitcoin DeFi is gradually rising. Earlier this month, Stacks announced the removal of the issuance cap for sBTC, enabling unlimited minting and releasing more liquidity for developers, institutions, and users. Leveraging Gate.io's global reach, sBTC will be able to enter markets in over 100 countries, especially in regions with significant growth potential such as Asia, Latin America, and Eastern Europe.

As an asset fully backed by Bitcoin at a 1:1 ratio, sBTC gives Bitcoin "programmability." This means that users can not only implement lending and yield strategies on the Stacks Layer 2 network but also participate in more DeFi applications that use Bitcoin as a foundational security. With the launch of sBTC on Gate.io, global users will have easier access to these opportunities.

Significance of the Launch

• Wider User Reach: With the help of Gate.io's global layout, sBTC now covers over 100 countries and regions, bringing a new Bitcoin Layer 2 experience to emerging markets such as Asia, Latin America, and Eastern Europe.

• Enhanced Liquidity and Market Influence: Listing on one of the top ten exchanges globally will bring deeper trading depth and better price discovery mechanisms for sBTC, while also increasing the cross-market visibility of Bitcoin DeFi.

• Exchange Endorsement: Previously, Gate.io was one of the earliest exchanges to support STX, and now it is the first to launch sBTC. This not only recognizes the native DeFi of Bitcoin but also further highlights the strategic synergy between Gate.io and the Stacks ecosystem.

• Supporting the Developer Ecosystem: Gate.io has integrated the Stacks SIP-010 standard, and its investment department is actively engaging in DeFi projects. The addition of sBTC provides builders with more liquidity entry points and possibilities for product integration.

Andre Serrano, Product Lead at Bitcoin L2 Labs (the core development team of Stacks), stated:

"Gate.io is fully embracing Bitcoin DeFi. From supporting the SIP-010 standard to incorporating sBTC into financial products, this launch further reflects the deep consensus between Gate.io and Bitcoin Layer 2 builders."

Founded in 2013, Gate.io is one of the oldest cryptocurrency exchanges in the world, renowned in the industry for its liquidity, asset diversity, and security. The inclusion of sBTC in the spot market not only solidifies Gate.io's leading position in the emerging blockchain ecosystem but also demonstrates its long-term support for the growth of the Bitcoin Layer 2 ecosystem.