So Far, Only Two Businesses in Ohio Have Used Bitcoin to Pay Taxes


According to a recent statement made by Ohio’s state treasurer, so far, only two businesses have filed their taxes in crypto using the state’s crypto tax payment scheme.

Speaking at a forum organized by the Ohio State Associated Press on February 19, 2019,Robert Sprague fielded questions about the department’s experiences with the newly launched bitcoin payment option for taxes, which was set up by his predecessor Josh Mandel in December 2018. Sprague, who assumed his position a little over a month ago, states that the country has received only two tax payments so far on the state’s official crypto payment platform,

In addition, he said, “We’re reviewing how [the program] might be either curtailed or might be expanded, and what our counter-party risk is with that vendor.”

However, a spokesperson declined to offer specific details concerning the exact value the state has received in bitcoin-paid taxes, claiming that such tax-related information is covered by financial confidentiality.

Still, the slow rate of usage won’t deter the state, whose lawmakers are hoping to become a major hub for the blockchain industry.

As stated earlier, the new tax payment system was established by Josh Mandel, who viewed cryptocurrencies as a legitimate form of money.

At the time, Mendel said:

“Our biggest motive here was to give taxpayers more options in paying their taxes,” going further to tell Bloomberg that the state was “proud to do our small part and take this small step to make Ohio the first state in America to enable taxpayers to be able to pay via cryptocurrency.”

According to reports, the filing process for making these payments includes three steps.

The first step is registration. Businesses have to register with the Office of the Ohio Treasurer and set up their accounts on the state’s tax payment platform. From there, they would enter their tax details (including tax period and the payment amount) on the platform, after which time they can pay their taxes with bitcoin from a “compatible” wallet (these include the BRD, Mycelium and the Bitcoin Core client, as well as others “compatible with the Bitcoin Payment Protocol”).

Once made, the payments are processed by BitPay, the Atlanta-based bitcoin payment processing firm. From BitPay, the digital assets are converted into dollars and sent back to the state treasurer’s office as the final step of the process.

This article originally appeared on Bitcoin Magazine.

Wrap Your Head Around This: BTC Is Now Featured as a Token on Ethereum


It happened: Bitcoin is now an Ethereum token.

Wrapped Bitcoin (WBTC), an ERC-20 token with a 1-1 peg to bitcoin, went live on the Ethereum network on the final day of January, “the first token that makes Bitcoin compatible with the Ethereum chain,” its architects say.

Kyber Network, Bitgo and Ren spearheaded the “community led” initiative, which has spread its reach to AirSwap, BitGo, Blockfolio, Compound, DDEX / Hydro, Dharma, Gnosis, GOPAX, Kyber Network, Loopring Protocol, MakerDAO, OmiseGO, Prycto, Ren, Set Protocol, and TheOcean. These members of the WBTC DAO are a mixture of liquidity, infrastructure and custodial partners. The token’s network will rely on some of them to facilitate BTC to WBTC swaps for its users.

To exchange their BTC for WBTC or vice versa, users must enter into a request with a WBTC merchant, someone who basically “sells” (or more accurately, distributes) WBTC to users in exchange for bitcoin (or bitcoin in exchange for WBTC) and go through KYC. These merchants act as a go-between for the user and the network’s liquidity pool, the custodians.

That merchant takes this request to a custodian, who will either deny or honor the request and mint or burn WBTC for the user. Minting and burning takes place directly between the merchant and the custodian through an atomic swap, a protocol that allows users to trustlessly trade assets cross-chain —in this case, BTC and WBTC.

To trigger the process, a merchant would submit a minting request to an Ethereum smart contract while simultaneously sending bitcoin to the custodian.

“The custodian then waits for 6 confirmations on the bitcoin chain, and approves the minting request on the Ethereum network, and the approval triggers the mint operation in which the merchant gets the WBTC,” Yaron Velner, the CTO of Kyber Network, told Bitcoin Magazine.

The user is not involved in this swap in this first swap in any way. To claim their tokens/bitcoin, the user then has to enter in either an atomic swap or a trusted exchange with the merchant.

Kyber Network and Republic Protocol will kickstart the network as its first merchants, and

Eight Wrapped Bitcoin community members(AirSwap, Dharma, ETHfinex, GOPAX, Kyber Network, Prycto, Ren and Set Protocol) will kickstart the network’s WBTC and BTC liquidity vehicle as merchants, while BitGo will be the sole custodian to start.

Members of the WBTC DAO will oversee a multisignature wallet that will handle the permissions and keys necessary for assigning or retracting merchant and custodian roles.

The (Peg) Ins and Outs

The project promises to bring Ethereum smart contract utility to bitcoin and the benefit of bitcoin’s liquidity to ether’s token market.

Currently, Ethereum dominates the decentralized exchange (DEX) landscape, and there’s no way for traders to directly trade their bitcoin for tokens (they have to go through centralized exchanges for that). Giving traders the option to import bitcoin to Ethereum to trade its value as an ERC-20 token, WBTC could unleash a sea of bitcoin liquidity into Ethereum’s Decentralized Exchanges — this is likely why IDEX, the largest DEX on Ethereum, is involved, along with Airswap, DDEX, ETHfinex and others).

As an ERC-20 token, WBTC can also execute smart contracts, meaning dApps could use the token (like WBTC community partners Compound, Dharma, dYdX, bZx, Gnosis, Maker and Set protocol), and developers can start building new applications on WBTC. Wholesale, the project sells itself as “[combing] the benefits of Ethereum and Bitcoin, making it simple to handle the wrapped currency with only the Ethereum node.”

It’s an ambitious project, bringing together crypto’s two most valued networks, one that wants to utilize the best of both cipher worlds. It’s one, though, that Wrapped Bitcoin is backing up with immediate utility and liquidity at launch, but it’s also one that comes with tradeoffs.

“Kyber Network and Ren have procured an initial amount of WBTC tokens from their own Bitcoin inventory to provide initial liquidity and make WBTC immediately available for swaps with users. BitGo will be the initial custodian,” a press release states.

“Eight initial merchants will be facilitating conversion between WBTC and BTC: AirSwap, Dharma, ETHfinex, GOPAX, Kyber Network, Prycto, Ren, and Set Protocol.”

The token service is starting centralized, and you have to go through KYC to be verified with merchants to submit token minting or burning requests. BitGo will be the sole custodian from the beginning, meaning that all swaps will be conducted by the blockchain and wallet services company.

“Various decentralized and centralized exchanges have also procured WBTC inventory to support liquidity for the token with the live supply of WBTC observable on the WBTC dashboard,” the press release also states.” WBTC will also have usage on a handful of dApps out the gate, including “bZx, Compound, Dharma, dYdX, and DApps and wallets integrated with Kyber Network.” CoinGecko, the project’s market data partner, will be covering WBTC data.

Cautions and Clarifications

The service is fairly centralized out of the gate, something the project recognizes in its whitepaper, describing its structure as a “federated governance model.” Even if the merchants are distributed (and sparsely at that for the time being), BitGo’s custody of pegged-in bitcoin is both a counterparty risk and single point of failure. Of course, BitGo has multisignature and cold wallet services to mitigate these risks.

But for a project that brands itself as giving users an out from centralized services like exchanges, it offers a similar degree of centralization with just a few more steps (instead of submitting your coins to the custody of a centralized exchange, you’re putting them in custody with a separate company and then using the tokens of credit this company gives you (instead of the credit you’d use on the centralized exchange) to trade them elsewhere.

Still a functional bitcoin-to-ethereum bridge is a novel addition to the industry’s architecture, something that RSK is working on and Blockstream could theoretically build with Liquid. And, as Vitalik Buterin said on Twitter, Liquid’s federated sidechain is semi-subject to the same centralization as Wrapped Bitcoin, but Liquid’s liquidity partners are more evenly distributed (and don’t require a third party for custody).

WBTC, like Liquid, could sufficiently decentralize in the future given enough adoption, Buterin concludes.

Sidechains like Liquid work in exactly the same way. Granted Liquid currently has more participants, but I hope WBTC can decentralize somewhat over time too.

— Vitalik Non-giver of Ether (@VitalikButerin) January 30, 2019

Wrapped Bitcoin lists BitGo as its “initial” custodian, leaving a vague sense that more will come in the future, but they will have to be regulated to hold the bitcoin, the project’s whitepaper makes clear If its influence fans out, more merchants and custodians could provide some risk mitigation and help the project decentralize. Its website has open applications for partnerships, keeping with the initiative’s claim to be a community-driven effort.

“The fundamental design of WBTC and the continuing commitment of all members to openness will form the essential building blocks for a transparent process framework and governance structure. Relying on these foundational principles, WBTC will remain a firmly community-led initiative into the future, focused on driving continued innovation for the enhancement of the entire ecosystem.”

This article originally appeared on Bitcoin Magazine.

Zebpay Continues European Expansion, Launches EU-Wide Trading Tournament


Cryptocurrency exchange Zebpay is opening new offices in five European countries, increasing its presence on the continent to 26 countries.

Launched in 2011 in India, Zebpay grew into one of the country’s largest cryptocurrency exchanges before shuttering its operation in September 2018, due to the crypto ban in the country. Now, the exchange operates out of Singapore, and today’s expansion will make it available for users in Spain, Romania, Slovakia, Liechtenstein and Lithuania.

The exchange is also running a European trading competition which will debut today, February 1, 2019. The tournament will be used by the crypto platform to identify and reward expert traders in Europe. In part, the competition is a cheers to Zebpay’s expansion, but the self-proclaimed “new member of the European crypto community” said it’s also in a bid “to build a relationship with the crypto trading community and show why over 3 million consumers worldwide trust and enjoy using Zebpay.”

Ajeet Khurana, CEO of Zebpay, spoke with Bitcoin Magazine about the expansion. He said, “As we continue to expand into new territories, we want to build strong relationships with crypto communities, enthusiasts and traders in existing ecosystems. Our platform is battle tested with millions of users (many of whom are new to the space) with incident free handling of billions worth of assets. We can’t wait to see how the new countries that we’ve expanded to interact with our platform.”

“As on today we serve most of the EU countries and have also started accepting customers from across the globe including South America and Asia,” he added.

The trading competition will be open to all European countries where Zebpay’s services are available, including the five countries that are now available today.

“The goal of this competition is to encourage healthy competition amongst traders and for new traders to get a taste of the Zebpay platform,” Khurana told Bitcoin Magazine.

The exchange will select 50 participants randomly to compete in a trading challenge. Each participant will get €1,000 to trade with on the platform for 30 days. There will be a public leaderboard, where traders can monitor their progress on the platform and a 24/7 support team will be available to help participants every step of the way.

At the end of the competition, the top 10 traders will keep the balance in their account. Those who don’t make the cut will get a reward of €100 for participating in the tournament.

This article originally appeared on Bitcoin Magazine.

Living on Bitcoin Day 7: A Supposedly Fun Thing I’d Definitely Do Again


This is the seventh instalment of reporter Colin Harper’s “Living on Bitcoin” experience in San Francisco. Find out what happened to him earlier on Day 1 , on Day 2 , on Day 3 , onDay 4, on Day 5 and on Day 6.

I woke to the sound of thin but consistent rain against the sailboat. A gentle storm soon rolled in to softly rock the harbor’s rustbucket bedfellows, a few spurts of lightning distant and crackling across the bay.

Dustin wasn’t up yet so I made a cup of coffee (gods be praised) and went above the deck of the Velela — the name Dustin’s sailboat came with when he bought it four years ago. The previous owner (a marine biologist) was inspired by the jellyfish of the same name, which can hoist a sail-like fin in the air to propel itself more quickly through the water.


The Velela resting in the harbor.

After Dustin got up (and we wolfed down some bacon-n-egg burritos), we made preparations, which included stuffing a rubber skiff into his Honda Fit, and we set out on the open water. The day was graying as we left the docking area, with a misting of rain so faint you could barely feel it on your skin.

Once we’d motored out far enough, Dustin hoisted the sails. Swelling with the bay’s untamable winds, the sails vaulted us forward and pushed the boat to the right — a bit more than I would have liked.

“This is safe, right? It’s not going to tip over?” I asked apprehensively.

“I wouldn’t exactly call sailing a safe activity,” Dustin said with a smile that managed to be both carefree and severe.

“But it’s not going to tip over, is it?”

“Probably not,” he joked. “But really, there’s a huge weight in the middle of the hull, so we’ll be fine.”

We were headed for the city’s waterfront, a 10-mile trek, give or take. The wind was against us, though, so we had to get there by tacking, a maritime navigation technique that involves sailing diagonally with the wind and cutting an angle to switch back toward your destination (basically making a zigzag pattern).


Roughly 10 miles out from San Francisco, the city’s skyline faintly visible to the right.

Dustin pulled out what he called the autohelm, a smart tablet ((Even the boats in Silicon Valley have iPads) that keeps track of speed, depth, GPS, trajectory and supposedly can even steer the ship using this USB-plunger attachment on the wheel, which looks uncannily like the suction sections of those automatic pumps for milking cows.

He put it to work, the mechanic whir and churn of the plunger struggling to keep the boat on course as the weather worsened. I had the feeling that, under conditions, the autohelm would have performed admirably.

The heavy force of the wind and waves, though, eventually overpowered the automaton’s control over the boat. Dustin “fired” it and took the wheel.

Looking out to my right, I noticed a blackened cloud, dark and gnarly, billowing up, the kind that looks ready to dump at any moment. The rain was falling a bit more steadily (though not too heavily), and the wind was picking up, causing the waves to chop savagely away at the haul.

Before I could convey my concerns, Mother Nature decided to blow them into the open. A gust of wind bruised the sails and sent the ship tipping and the cabin’s contents flying below. The ship was at an angle when the clatter of Dustin’s belongings became audible as they were flung about below.

Should have kept that skiff at hand. And now that I think about it, where are the life vests?

“Let out that line!” Dustin commanded, taking on the urgent persona of a captain as he strained to turn the boat against the lean. “As much as you can!”

I released a line connected to the bow’s sail and it went slack. Dustin rushed to the midsection while I took over the wheel and he let down the mainsail, finally disarming the wind. The entire ordeal, which felt like it took some time, probably lasted a minute at most.

“I think we should turn back,” I observed brilliantly.

“You think so?” he said with a heave of nervous laughter.

We got back (thankfully) right before the boat’s motor died, but we were still eight spots away from Dustin’s space in the dock. With the help of two good samaritans, we towed the sailboat back to its place with painstaking attentiveness. Dustin didn’t relax until she was safely moored.

“Whew! I’m still up on adrenaline!” he hollered when the boat was docked

Most people get stressed into a knot when their car battery dies. Imagine that happening except it’s a boat in open water and it almost capsizes. Oh, and the boat is also your house.

I said goodbye to Dustin over another burrito and sent him some sats for the trouble. After we parted ways, I grabbed a Lyft and headed just south of the Tenderloin district to cryptografitti’s place.

The apartment is on brand for an artist. Sterile, with neutral tones of chrome and white across each room, the flat was extremely well kept. Art of various styles decorates the place: a postmodern painting detailing San Franciscan life, which he had commissioned by a local artist, hangs above a tannish-brown, leather sectional; a puzzle-piece coffee table to accompany the couch; and a metal-matted two-piece fixture in the kitchen with a surface that looks like cells under a microscope that his sister made for him;.

And, of course, his own art is on display in his studio.

One original, United Nodes x 100, hangs directly behind his work desk, while two variants of Currency Exchange lie in the back-left corner and on the desk. Next to the one on the desk is one of his latest: the abstract of the Bitcoin white paper made from USD.

The rest of his office is lined with shelves that are stuffed with various supplies, including the white gloves he wears in each of his videos. On one of the shelves, a bag of hundreds of credit cards for a piece he made to commemorate the late Hal Finney. I was curious as to how he got his hands on that many cancelled credit cards.

“It’s a trade secret. They’re all used,” he said. (You can buy them on eBay, by the way).

We talked art, bitcoin culture and the experiment in a conversation that seemed to intertwine all these topics together.

“To me, it’s all about teaching people about bitcoin through art. I wanted to anchor the work in something that people were already familiar,” he said.

He’s certainly made an impact. The former DJ subsists off the money he makes from his art, and he takes regular commissions, mainly from wealthy, fellow enthusiasts who want an original of the subversive fusion of fiat and digital economies that cryptografitti’s art represents.

“I want to remind people that the materials I use in the work are short-lived and, therefore, so is the entire status quo. And if the old monetary realm is no longer, what should the new one look like and why?”

Carrying on the conversation we had the night before at Stookey’s, he said again that it’s not all that surprising fewer merchants accept bitcoin now. The party’s over and everyone’s gone home. The people who were just there for the good times left with the bull market; but, in the bear, the people who really give a damn are sticking around to deal with the aftermath.

“It’s like when you have a party and your good friends stick around afterward to help clean up after the revelers have left. Go to Bitcoin meetups nowadays and you’ll find the people that care and are willing to put in the work,” he said.

He doesn’t think enthusiasm is dead, it’s just dampened and embodied in a very dedicated core community.

“The excitement is still there, it’s just shifted focus to Lightning,” he said. It’s likely that Lighting is the very thing that may make my experiment easier, if I choose to do it again in the (distant) future.

Black Swan, one of his latest pieces, exemplifies this excitement. The Lightning Network-only auction had 100 plus participants and sold to the lowest bidder — less than 1/100th of a penny. Part-performance, part-visual art, cryptograffiti said he wanted the piece to provoke people to appreciate innovation without fretting about price.

“My work is rooted in activism. When I can motivate people to get involved, it brings more awareness to whatever I am trying to convey. In this case, a lowest-bidder-wins auction was my way of ensuring participation/reach in the project while highlighting the capabilities of the lightning network.

“The fancified promo video that accompanied the art was meant to contrast with the absurdly low micropayments and poke fun at MSM who tend to focus more on price than the groundbreaking tech being built,” he said.

Catching a few hours of R&R, I still had one thing to do before I could call the week quits. I couldn’t get a room at 20 Mission due to San Francisco boarding codes, but I was still game to visit the hacker community house that Kashmir Hill shacked up in during the weekend of her week on bitcoin. I had made arrangements with Berkeley, the community’s head honcho, to visit that night.

The Uber that took me there was yet another Prius, the fifth (maybe sixth) I’ve ridden in this week.

I buzzed myself in with the house’s callbox, entered the foyer and made my way upstairs to a labyrinth of hallways and rooms (the community houses 40 or so people).

A resident came in shortly after, toting an LED-glowing electric unicycle that had an extended handle like a rolling suitcase. I asked him if he knew where Berkeley was, and he pointed me in the right direction.

We made introductions and Berkeley offered me a La Croix, another in a set of San Franciscan constants that include whole bean coffee, 20-somethings ripping Juuls, and Uber rides in Priuses.

Berkeley actually helped Jered Kenna, the cofounder and now owner of 20 Mission, found Tradehill, a once-upon-a-time bitcoin exchange that accounted for 15 percent of the coin’s daily trading volume back in the day when Mt. Gox accounted for 80 percent.

He reiterated some of what Hill talks about in her piece: how 20 Mission was much worse for wear before Kenna first cleaned it up.

“Before that it was basically a seedy crack hotel. Squatters lived there, but it was abandoned for something like 18 years,” said Berkeley.

As we talked, we walked around the house and I surveyed the murals that decorated each hallway. Local artists had done them, including the ones that enliven the house’s glorified courtyard: an open-air space in the middle of the building that’s accessible only through windows and is floored with roofing tiles.


One of the house’s many murals.

At the corners of some of the hallways, street signs with titles like “Litecoin Lane,” “Ethereum Blvd.” and — thank God — “Coinye West.”

The signs made me wonder if the house has an active crypto and general tech community, seeing as it’s billed as a hacker community. They still accept bitcoin for room and board, but the house’s tech focus shouldn’t be overstated, Berkeley told me.

“We have some people working on crypto, but it’s not like everyone is in crypto. For example, we just had a guy here who is a doctor, so it’s a mix.”

Doctors, lawyers, professors, service workers, developers — folks of all kind live in the community.

“With 40 rooms, there are lots of different people. We’re decentralized.”

Unfortunately, none of the crypto-focused professionals were around to chat, either by virtue of being busy or because they were hiding from “the media.” That was all right by me; I understand their need for privacy, and given America’s current media climate and public sentiment, I didn’t find it shocking that they didn’t want to show their faces to a nosy reporter (the industry’s professionals seem to approach the press with serious skepticism).

Satisfied with the tour and the talk, I thanked Berkley and went on my way.

Back at the castle, I had a last supper from Curry Up Now (courtesy, as always, of Bitrefill-funded Uber Eats), relaxed and, just like that, the week was over.

I went to bed thankful I’d be able to use my fiat debit card in the morning.

As Kashmir Hill did in her original journey, Colin is accepting BTC tips to help him along the way.

Tip jar: 3CnLhqitCjUN4HPYf6Qa2MmvCpSoBiFfBN

This article originally appeared on Bitcoin Magazine.

Blockstream Breaks into Japanese Market with JPY Stablecoin, Partnership

crypto garage.jpg

Blockstream is partnering with Japanese fintech giant Digital Garage to bring a JPY stablecoin to the Bitcoin network.

To spearhead the project, Blockstream and the ¥120 billion (just over $1 billion) firm are working under the label Crypto Garage with the help of Tokyo Tanshi, the “largest inter-dealer broker in Japan w/ billions in trades daily,” according to Samson Mow, Blockstream’s chief strategy officer.

The collaborative is building the yen-pegged coin (JPY-TOKEN) on Blockstream’s Liquid network, a Bitcoin sidechain that tacks additional technical features onto the blockchain, like smart contracts.

It’s also the inaugural asset for SETTLENET, a new Liquid product suite that Blockstream claims will “enhance trading efficiency and security for participants in the Bitcoin market.”

“SETTLENET will definitely make it easier for Liquid Issued Assets to be created. Currently savvy users can already create assets with command line tools, but having GUI’s and frameworks for asset issuance will speed up adoption,” Mow wrote to Bitcoin Magazine via email.

Leveraging SETTLENET, Crypto Garage’s JPY-TOKEN can be atomic swapped for L-BTC, a Liquid asset token that maintains a 1-1 peg to bitcoin on the Bitcoin mainnet. Like its dollar, pound and euro counterparts, JPY-TOKEN will go 1-for-1 with the yen.

By the Book

The partnership has Blockstream embedded with two of Japan’s fintech heavyweights, so Blockstream is operating within the bounds of Japan’s financial regulations.

Both Blockstream’s blog post and Samson Mow’s tweet on the announcement stressed that the Japanese Financial Services Agency has approved the product.

To assist the exchanges that will be issuing and redeeming the asset, the product suite will come with an authorizer, a “rule-based transaction authorization” tool that will let users process payments under pre-set conditions.

“[The Authorizer] will help ensure regulatory compliance for certain transactions that may need to stay within a certain group of users. For example, a security token offering may only able to be transacted amongst accredited investors,” Mow added in our correspondence.

To start, the JPY-TOKEN liquidity partners, the trusted parties who facilitate the swaps between Liquid and Bitcoin’s networks, “will be limited to FSA licensed crypto exchanges in Japan,” Mow indicated.

“It’s not yet clear what the exact distribution model will be for the JPY stablecoin,” he added.

“A Natural Extension”

Mow stated that the partnership had been some time in the making.

One of Blockstream’s board members, Reid Hoffman, connected the company with Joi Ito, the director of the MIT Media Lab and one of Digital Garage’s co-founders. The blue chip would become a lead investor in Blockstream’s $55 million Series A funding round, after which time Samson wrote that they “started to explore a technology partnership to focus on blockchain initiatives in Japan.”

That exploration would begin to materialize in 2017 as Digital Garage Labs, Digital Garage’s research and development arm, which Tokyo Tanshi, a Japanese brokerage services company, would join in the same year.

Samson calls Crypto Garage “a natural extension of [these] relationships,” the culmination of each company’s professional relationships after Blockstream fully committed to the project.

Before Crypto Garage, Blockstream had helped Digital Garage use Blockstream’s enterprise-facing blockchain platform, Elements, “to develop real-time exchange systems for loyalty points and digital currencies, as well as regional money systems,” Mow told Bitcoin Magazine.

Under this new partnership, Blockstream will take in another $10 million in funding from Digital Garage, which it will use to focus on Liquid, its cryptocurrency data feed and “new product lines.”

SETTLENET Sets Expectations for Future of Liquid

While the JPY-TOKEN will position Blockstream in the Japanese market, SETTLENET isn’t confined to its first asset.

“SETTLENET will provide Liquid Network participants, including cryptocurrency exchanges, OTCs and financial institutions, with the functions required for issuance, trading and transaction monitoring of digital assets,” the suite’s website states.

As Mow indicated, it’s made to make the process of issuing Liquid assets easier. In the future, he’s hopeful that it will be used to support more sidechain assets that can interoperate with Bitcoin’s network.

Mow believes that the JPY-TOKEN could be the first of many stablecoins native to Blockstream’s Liquid, telling Bitcoin Magazine that interest from stablecoin creators could mean more to come soon.

“We’ve been in talks with many of the stablecoin issuers and I think there’s a lot of interest to leverage something robust and secure like Liquid — there’s also the added bonus of confidentiality for stablecoin transactions within Liquid thanks to the Confidential Assets feature, and multisig issuance so multiple parties have to sign off on any new issuances. You can expect more stablecoins on Liquid soon!”

This article originally appeared on Bitcoin Magazine.