PANews July 17 news, according to Cointelegraph, the RGB Protocol, a smart contract and asset issuance system, announced that it has gone live on the Bitcoin mainnet, enabling the tokenization of assets such as stablecoins, NFTs, and custom tokens within the Bitcoin ecosystem. The protocol uses a client verification mechanism, storing asset data off-chain and anchoring proof through Bitcoin transactions, achieving privacy protection while maintaining decentralization.
The RGB Protocol Association was established on the same day, with members including institutions such as Bitfinex and Fulgur Ventures. The CEO of Boosty Labs revealed that USDT will become the first stablecoin based on the RGB Protocol operating on the Bitcoin network, allowing users to make fast and low-cost transfers through the Lightning Network. The protocol also supports building EVM-compatible DeFi applications and will launch a developer funding program in the future.
