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Are stablecoins coming to Bitcoin?

The Bitcoin network is becoming a multi-asset network.

By Finst News
• 2 min read
Are stablecoins coming to Bitcoin?

The Bitcoin network is becoming a multi-asset network. With Taro, stablecoins can now be sent over Lightning.

Bitcoin's Taproot update is starting to bear fruit. As Lightning Labs announced on Wednesday, September 28 announced, the alpha version of Taro has gone live. This is a Taproot-powered protocol that lets assets be issued on Lightning. This is how Bitcoin positions itself long-term for stablecoins.

"Assets issued on Taro can be deposited into Lightning channels, where nodes can perform so-called atomic swaps from BTC to Taro assets. This lets Taro assets work with the Lightning Network, boosting reach and network effects," says the Lightning Labs Builder's Guide.

By the way: Taro stands for Taproot Asset Representation Overlay. The name already reveals it: without Taproot this update wouldn’t have been possible.

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