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Allbridge to become the first token bridge for the Stacks token Allbridge to become the first token bridge for the Stacks token
Business / Crypto

Allbridge to become the first token bridge for the Stacks token

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Multi-chain token bridge Allbridge will become the first to offer Stacks (STX) transfers as part of a partnership with Bitcoin software developer Daemon Technologies. STX is the native token for the Stacks Layer-1 blockchain which settles transactions on the Bitcoin (BTC) network. It currently has a market cap of $1.7 billion. Allbridge currently serves 12 blockchains including Ethereum, various Ethereum-compatible sidechains, Solana, Terra, and others. A token bridge allows crypto from one blockchain to be transferred to another one. The new bridge will allow transfers between Stacks and all chains served by Allbridge. The Stacks Bridge will go live in Q2 2022. It will initially only support transfers of STX, but is planned to support transfers of other Stacks protocol SIP010 tokens such ...