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A New Token Is Coming To Ethereum – And It’s Fully Bitcoin-Backed

In January, a new token is being launched on the ethereum blockchain that will be backed one-for-one by bitcoin.

The companies behind the initiative include decentralized exchange startups Kyber Network and Republic Protocol, as well as cryptocurrency custody company BitGo. What’s more, a number of ethereum-based projects are also reported to support adoption of the token once released.

Decentralized cryptocurrency exchanges and finance-focused blockchain projects participating as “launch members” include MakerDAO, Dharma, Airswap, Gnosis, IDEX, Radar Relay, Compound, DDEX, Hydro Protocol, Set Protocol and Prycto.

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