{"id":384106,"date":"2021-12-21T18:07:50","date_gmt":"2021-12-21T15:07:50","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/interlay-raises-6-5m-to-accelerate-bitcoin-defi-interoperability\/"},"modified":"2021-12-21T18:07:50","modified_gmt":"2021-12-21T15:07:50","slug":"interlay-raises-6-5m-to-accelerate-bitcoin-defi-interoperability","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/interlay-raises-6-5m-to-accelerate-bitcoin-defi-interoperability\/","title":{"rendered":"# Interlay raises $6.5M to accelerate Bitcoin DeFi interoperability"},"content":{"rendered":"<p>&#8220;<strong># Interlay raises $6.5M to accelerate Bitcoin DeFi interoperability  <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTIvODE1YWM2NTItNDgzMC00MmFkLWJkOTYtN2QyZTk5MjdiYTg3LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>DFG Capital has led a $6.5 million investment in the interoperability start-up Interlay, which is building infrastructure for decentralized finance <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>lications across major blockchains such as Ethereum, Cosmos and Polkadot.\u00a0<\/p>\n<p>As per the announcement, the new funds will be used by Interlay to scale its operations and bring more developers on board with its open-source platform. In a statement, James Wo, DFG Founder and CEO, said Interlay&#8217;s solution will &#8220;expand the cross-chain possibilities for Bitcoin.&#8221;\u00a0<\/p>\n<p>Interlay aims to integrate cryptocurrencies like Bitcoin (BTC) with DeFi platforms such as Polkadot and Ethereum. InterBTC, the company&#8217;s main product, is a fully crypto-based Bitcoin-backed asset. It&#8217;s backed by multiple collaterals and functions like an algorithmic stablecoin that can be fully redeemed for Bitcoin.<\/p>\n<p>The Web3 Foundation, which is behind the Polkadot project, provided the initial funding to begin development in 2019, aiming to utilize Bitcoin&#8217;s liquidity to propel the growth of the DeFi ecosystem as per the release. Interlay intends to double its workforce over the next eight months. It has 15 full-time employees and more than 100 community ambassadors presently.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>\u2018DeFi is the most dangerous part of the crypto world,\u2019 says Senator Elizabeth Warren<\/em><\/strong><\/p>\n<p>Defi interoperability is seen as a key step in the development of the ecosystem and could pave the way for increased mainstream adoption. The DeFi sector has continued to flourish throughout 2021, with the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/defillama.com\/\">overall<\/a><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/defillama.com\/\"> <\/a>value of all DeFi protocols surpassing $270 billion in early November amid a strong rally in cryptocurrency markets.<\/p>\n<p>Privacy is becoming an increasingly important issue as DeFi grows in popularity. Some blockchain projects have been working on privacy solutions. According to Paolo Guida, head of investments for Blockchain Valley Ventures, the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.forbes.com\/sites\/forbesfinancecouncil\/2021\/08\/31\/privacy-is-the-biggest-challenge-preventing-defi-lift-off\/?sh=5e37c3ff41ea\">biggest<\/a> roadblock to DeFi takeoff is privacy.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/interlay-raises-6-5mm-to-accelerate-bitcoin-defi-interoperability\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Interlay raises $6.5M to accelerate Bitcoin DeFi interoperability &#8221; DFG Capital has led a $6.5 million investment in the interoperability start-up Interlay, which is building infrastructure for decentralized finance applications across major blockchains such as Ethereum, Cosmos and Polkadot.\u00a0 As per the announcement, the new funds will be used by Interlay to scale its&#8230;<\/p>\n","protected":false},"author":1,"featured_media":384107,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTIvODE1YWM2NTItNDgzMC00MmFkLWJkOTYtN2QyZTk5MjdiYTg3LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74983,99002,75719,75168,117],"class_list":["post-384106","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-decentralization","tag-decentralized-marketplace","tag-funding","tag-polkadot","tag-business"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/384106","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=384106"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/384106\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/384107"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=384106"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=384106"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=384106"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}