Stacks Partners Aptos Foundation to Launch sBTC on Aptos

Aptos Foundation, a non-profit organization building the layer-1 Aptos blockchain, announced Tuesday a partnership with the Bitcoin layer-2 solution Stacks to bring the leading cryptocurrency into decentralized applications (dApps) built on Aptos.

The collaboration entails that Stacks will bring its flagship asset, sBTC, into Aptos mainnet. Following news of the partnership, Aptos’ APT jumped nearly 3%.

Aptos Welcomes Stacks’ sBTC

Stacks describes sBTC as “a non-custodial, programmable 1:1 Bitcoin-backed” digital asset allowing decentralized movement of the leading cryptocurrency in and out of the Bitcoin blockchain. The project’s goal is to bring BTC from its sole functionality of peer-to-peer money transaction into the world of decentralized finance (DeFi). Notably, other projects like Zest has began incorporating DeFi functionalities into the Bitcoin ecosystem.

Since Aptos utilizes the Move programming language, developers familiar with the language can adopt sBTC to develop dApps deployable on the Aptos mainnet. Aptos developers and users can also benefit from Bitcoin’s security when interacting with Stacks’ sBTC.

Notably, the latest initiative will likely increase the daily transactions executed on the Aptos network and, by extension, more revenue for the blockchain.

The announcement added that Stacks users will also benefit from the integration as they expand the utilities of their BTC holdings. With sBTC on Aptos, holders can potentially increase their gains by investing in Aptos-based applications themed around gaming, artificial intelligence (AI), social platforms, NFT marketplaces, and DeFi protocols.

Commenting on how the integration benefits both parties, Bashar Lazaar, Head of Ecosystem and Partnerships at Aptos Foundation, said:

“The integration of sBTC onto Aptos is a critical next step for the Aptos ecosystem, and Bitcoin’s real-world utility. This integration instantly makes Bitcoin highly capable beyond a store of value, allowing for its use in complex smart contracts and decentralized applications. We’re not just theorizing about Bitcoin’s potential – we’re putting it into action across a wide range of real-world deployments, powered by Move on Aptos and a peerless L1 tech stack.”

Following the announcement, Aptos’ APT coin saw a mild 2.81% increase, bringing its price to $5.89 at press time.