Creditcoin Integrates Stacks To Bring Bitcoin To Its Open Finance Ecosystem
The Creditcoin Foundation is committed to building a better future for finance, based on the principles of openness, transparency and accessibility for all — the cornerstones of the Creditcoin Ecosystem, but we can’t do it alone.
That’s why we’re integrating Stacks. With Stacks we can bring Bitcoin to the Open Finance ecosystem. Stacks enables apps and smart contracts for Bitcoin and all transactions on the Stacks network settle securely to Bitcoin. Stacks is committed to unlocking Bitcoin’s potential and has paved the way for Bitcoin DeFi, a rapidly growing sector of the billion dollar DeFi industry.
“The Creditcoin Foundation is excited to build on Stacks, enabling our infrastructure to benefit from Bitcoin’s security while activating new capital from the Bitcoin ecosystem. Our mission is to build the borderless financial market and security is a crucial element in that. We’ll start by adding support for Stacks-enabled security features, as well as wider-ecosystem integration via Gluwa.”
“I’m particularly excited about this integration because at the Stacks Foundation we’re working to fully unleash Bitcoin by making it more useful for more people. Creditcoin does this by bringing Bitcoin DeFi along with access to credit to a whole new pool of users in Africa. Through the integration, users will also have direct exposure to Stacking, which allows STX holders to earn bitcoin rewards over time,” said Louise Ivan Payawal, Growth Lead at the Stacks Foundation. “Users will also get to take this one step further by also gaining exposure to other Bitcoin DeFi projects built on STX, allowing for users to experiment with self-repaying loans, and borrowing and lending, and more, all on Bitcoin.”
We look forward to a long and fruitful partnership and being an essential part of the Bitcoin-DeFi ecosystem — The Creditcoin Foundation.
Secure smart contracts and apps for Bitcoin. The Stacks ecosystem is a collection of independent entities, developers, and community members working to build a user-owned internet on Bitcoin. The Stacks blockchain extends the design of Bitcoin to enable secure apps and predictable Clarity smart contracts without modifying Bitcoin itself, opening innovation on the network for the first time. The Stacks cryptocurrency (STX) is used as fuel for networking activity and contract execution and can be locked by STX holders via ‘Stacking’ to earn Bitcoin (BTC) rewards for supporting blockchain consensus. Stacks cryptocurrency was distributed to the general public through the first-ever SEC-qualified token offering in US history.
Creditcoin is a foundational L1 blockchain designed to match and record credit transactions, creating a public ledger of credit history and loan performance and paving the way for a new generation of interoperable cross-chain credit markets.
By working with technology partners, fintech lenders such as Aella, and other financial institutions across global emerging markets, Creditcoin is securing capital financing, building credit history, and facilitating trust for millions of underserved financial customers and businesses based on the principles of Open Finance.