The Pantera Capital and Hack VC-backed Blockchain Venture Studio paper debuted the mainnet of Bitcoin Layer-2 network Mezo.
According to an announcement released in an email shared with Coindesk, Mezo will become a Bitcoin finance platform, allowing users to unlock practical utilities in BTC and become their own bank.
The project debuted Testnet last year, following a $21 million fundraising round led by Pantera.
Users can use BTC as collateral for Mint and use Mezo’s native Stablecoin Musd. This creates a circular economy equipped with BTC.
The ongoing barrier to wider adoption of Bitcoin is that users have to sell or spend it. This can explain why, among many other reasons, Bitcoin has not fully proven as a form of money beyond being a valuable store.
“The holders didn’t have many options to actually use Bitcoin without giving up,” said Matt Luongo, CEO of the paper.
“You can use (Mezo} to park at BTC, access the credit line and live my life. This was meant to be your own bank, and how it always looked. Ultimately, Hodler can have a cake and eat it.”
Mezo has partnered with numerous cryptographic platforms offering use cases such as e-commerce store Bitrefill, offering gift cards to MUSD and BTC finance app Fold (FLD).
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