PANews reported on July 17 that, according to Cointelegraph, the smart contract and asset issuance system RGB Protocol announced its launch on the Bitcoin mainnet, enabling tokenization of assets such as stablecoins, Non-Fungible Tokens, and custom tokens within the Bitcoin ecosystem. The protocol uses a client-side verification mechanism, storing asset data off-chain and anchoring proof through Bitcoin transactions, maintaining decentralization while ensuring privacy protection.
The RGB Protocol Association was also established on the same day, with members including Bitfinex, Fulgur Ventures, and other institutions. The CEO of Boosty Labs revealed that USDT will be the first stablecoin to run on the Bitcoin network based on RGB Protocol, allowing users to make fast and low-cost transfers through the Lightning Network. The protocol also supports building DeFi applications compatible with EVM and will launch a developer grant program in the future.
