Babylon is collaborating with hardware wallet maker Ledger to support BTCVaults, enabling bitcoin to be used as collateral in decentralised finance, The Block reported on March 10.
Previously, using bitcoin in DeFi required custody services or wrapping, but BTCVaults removes that and uses native bitcoin under on-chain verification conditions. Ledger provides a secure signing layer that lets users approve transactions directly on a hardware device rather than through a browser or wallet.
Through the collaboration, BTCVaults will expand support for the Ledger wallet application and Babylon's native token, BABY, and Babylon plans to position bitcoin as a trustless asset for securing other blockchains and participating in DeFi.
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Chi-gyu Hwang
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