Nomic to Launch Bitcoin-Backed Token nBTC on Cosmos via Decentralized Bridge
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Nomic launching Bitcoin-backed token, nBTC, on Cosmos via a bridge upgrade by end of October.
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nBTC will act as a native token on Cosmos, transferable via IBC protocol.
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Nomic or Cosmos apps like Osmosis DEX will enable nBTC issuance/redemption for Bitcoin.
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Nomic bridge is fully decentralized and non-custodial, making it the first Bitcoin bridge of its kind.
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NBTC launch aims to solve Cosmos' need for a base money asset and liquidity.