Blockchain enterprise studio Thesis, which is backed by Pantera Capital and Hack VC, has debuted its Bitcoin layer-2 community Mezo’s mainnet.
Mezo is constructed to be Bitcoin finance platform that allows its customers to unlock sensible utility in BTC and thus grow to be their very own financial institution, in response to an emailed announcement shared with CoinDesk.
The mission debuted its testnet final 12 months following a $21 million fundraising spherical led by Pantera.
Customers can use their BTC as collateral to mint and spend Mezo’s native stablecoin MUSD, this making a round financial system powered by BTC.
An ongoing barrier to wider bitcoin adoption is the reticence customers should promote or spend it, which can be out of concern for shedding worth tied up of their holdings. This, amongst many different causes, can clarify why bitcoin has but to totally show itself as a type of cash past being a retailer of worth.
“Holders haven’t had many choices to really use their bitcoin with out giving it up,” CEO of Thesis, Matt Luongo, stated.
“With [Mezo}, I can park by BTC, entry a credit score line and stay my life. That is what being your personal financial institution was at all times meant to appear like. It lastly lets HODLers have their cake and eat it too.”
Mezo has teamed up with quite a few crypto platforms that present use circumstances similar to e-commerce retailer Bitrefill, which gives items playing cards for MUSD, and BTC finance app Fold (FLD), which gives a cashback debit card and gives bitcoin rewards.
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