Telos partners with Stargate, Circle, and BitGo for liquidity and DeFi expansion

Telos has connected with a variety of platforms throughout the crypto ecosystem in order to facilitate cross-chain liquidity and decentralized finance prospects.

The Telos Foundation revealed the expansion via X, pointing out that Telos now uses the technology and services of Stargate, BitGo, and Circle to improve network security, accessibility, and liquidity.

Specifically, Telos is utilizing Stargate, a cross-chain liquidity protocol built on LayerZero, to enable multi-chain native asset transfers. This integration will enable users to transfer tokens between Telos and 30 other networks, opening up new possibilities in a multi-chain decentralized finance ecosystem.

Additional integrations include with Hydra, a component of Stargate v2 to bring assets such as wrapped Bitcoin (wBTC), USDC (USDC), and Tether (USDT) to Telos.

"By introducing high-value, widely used tokens to Telos, Hydra enhances liquidity accessibility and encourages deeper DeFi engagement," the Telos Foundation stated.

Telos' wBTC and USDC integration is via BitGo and Circle, with the two companies being among the top ecosystem providers. Collaborating with BitGo not only introduces wBTC to Telos, but also ensures this happens with the backing of a provider that can unlock liquidity for institutional access on the platform.

Circle enables a bridged version of its USDC stablecoin to go live on Telos, with this offering the choice for native USDC to be deployed on the Telos mainnet.

According to DeFiLlama, the total value locked in DeFi protocols on Telos is currently around $16.6 million. The Telos TVL is distributed across decentralized exchanges, lending protocols, real-world asset platforms, and liquid staking providers, among others.

The Telos Foundation stated in the announcement that the upgrades and integrations it has obtained will be essential to the Telos blockchain’s interoperability and presence in DeFi.

"The path is now clear for massive liquidity to flow into the ecosystem, making Telos an attractive destination for DeFi users and developers," it noted.