Bitcoin compatibility added to Cardano wallet Lace

The Lace wallet, a non-custodial web3 solution developed by Input Output, is now functional across multiple chains, with Bitcoin being among the first to be supported.

Input Output, a platform dedicated to web3 research and infrastructure development that was founded by Charles Hoskinson and Jeremy Wood in 2015, revealed this news via a press release on March 20. Hoskinson is also the founder of Cardano (ADA), one of the leading cryptocurrency and blockchain projects.

According to Input Output, the Lace wallet's non-custodial solution now works across multiple chains. The launch introduces support for Bitcoin (BTC) in addition to Cardano, marking a significant expansion of the wallet's capabilities.

"The future of blockchain is multichain, and Lace is designed to give users everything they need in a single, powerful, and user-friendly wallet. Building on the foundation we've established with Cardano, we identified Bitcoin as the logical next step. But this is just the beginning," Brandon Wolf, general manager at Lace, stated.

With this update, Lace users can now store, manage, and transfer BTC.

According to Input Output, integrating BTC is a significant milestone that moves web3 closer to becoming a reality.

This is because the support not only helps speed up adoption for Bitcoin but also strengthens the broader ecosystem. As the top blockchain network gains more traction in decentralized finance and smart contracts, several layer-2 solutions built on top of it are seeing increased adoption.

"Bitcoin was the starting point for many people's Web3 journey, and now we are witnessing its next evolution with the rise of Bitcoin DeFi. With Bitcoin integration now live, Lace is creating a seamless, intuitive gateway to maximize the best of blockchain innovation," Hoskinson stated.

The integration provides an "intuitive gateway" that will help maximize blockchain innovation and contribute to the growth of decentralized finance (DeFi), as per the Cardano founder.

In addition to DeFi, Lace's web3 adoption includes non-fungible tokens and multi-chain asset management.

Bitcoin continues to garner attention for its potential, with projects like BitcoinOS among those that are advocating for its integration with crypto. The platform's open-sourcing of its BitSNARK v0.2 unlocks unlimited BTC programmability, as per the team's post on X. BitcoinOS' code allows anyone to verify ZK proofs on Bitcoin.