Flare Expands DeFi Reach with Planned Bitcoin Integration

Flare Networks CEO Hugo Philion has announced plans to expand its FAssets system to support Bitcoin through a wrapped FBTC token. This move aims to attract institutional investors by using confidential computing technology to keep large transactions private, addressing a key barrier in DeFi adoption.

The project has already issued over 150 million FXRP tokens and targets up to 5 billion XRP in the next six months. While the focus will be on deploying the code, wider adoption will depend on audits and stablecoin inflows, with the network's total value locked exceeding $200 million.