Elastos (CRYPTO:ELA) has partnered with BEVM to launch a Bitcoin-native (CRYPTO:BTC) peer-to-peer loan service using the BeL2 protocol, aiming to unlock up to $1.3 trillion in dormant Bitcoin value.
This initiative allows users to collateralise assets for L2 credit without touching the Bitcoin Layer, ensuring integrity and avoiding additional fees.
The partnership includes developing a BTC Oracle to monitor Bitcoin activities in real-time, enhancing insights into usage patterns.
Elastos' BIT Index shows growing US consumer comfort with Bitcoin, indicating a shift towards broader adoption and innovation in cryptocurrency applications.