The post Binance-backed BounceBit Announces Strategic Partnership with Free Tech to Enhance Secure Cross-chain Transactions appeared on BitcoinEthereumNews.com.

Coinspeaker Binance-backed BounceBit Announces Strategic Partnership with Free Tech to Enhance Secure Cross-chain Transactions BounceBit, a fast-growing native Bitcoin (BTC) restating chain that combines both centralized and decentralized financial aspects, has announced a strategic partnership with Free Tech, a Web3 project that specializes in cross-chain asset transfers. According to the announcement, the collaboration will enhance the BounceBit ecosystem by providing secure cross-chain transfers for BBTC and BBUSD in more than 50 chains. “With the integration of Free Tech, users can now directly swap BBTC and BBUSD onto the BounceBit Chain, enabling quick two-minute swaps with minimal fees or slippage across more than 50 top blockchains,” the announcement noted. The partnership between BounceBit and Free Tech will aid small amount transfers,  involving less than 1 BTC, through the free express feature. Moreover, transactions facilitated through the Free Express platform are settled within 1-2 minutes. On the other hand, the Free Tunnel feature will enable secure large-scale asset transfer between different chains. “With Atomic Lock Mint technology, it ensures secure cross-chain minting and multi-chain asset generation. Due to added security, these transactions take longer, from several hours to 3 days, making it suitable for larger operations,” the announcement added. Market Implications of the BounceBit and Free Tech Collaboration The mainstream adoption of digital assets and web3 products is largely pegged to the strategic collaborations and acquisitions made during the bear market. Already, the cryptocurrency market has entered a bull cycle following the recent fourth Bitcoin halving. The collaboration between BounceBit and Free Tech will play a crucial role in the mainstream adoption of Bitcoin and other digital assets. Moreover, Bitcoin has become a multi-chain digital asset through the emerging layer-two smart contract-enabled protocols. Notably, BounceBit is backed by reputable web3 venture capital firms led by Binance Labs, IDG Capital, Matrixport, OKX Ventures,…

---

Filed under: News - @ June 17, 2024 9:02 pm