BTC PROXY, a DeFi protocol for BTC holders, has partnered with MPCVault, a secure multi-signature custody solutions provider, to offer select institutions an option for self-custody. This collaboration allows partners to deposit their Bitcoin into MPCVault-integrated wallets within the BTC Proxy protocol, which will mint BTCpx tokens for use within DeFi.
The multi-signature process ensures enhanced security for withdrawal and removal of Bitcoin. The partnership aims to provide BTC holders with a seamless solution to transfer their Bitcoin onto DeFi, including the upcoming Redux protocol, which is an on-chain borrowing and lending protocol designed to offer permissionless access to Bitcoin for institutions and users.
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