Interlay – a freshly appointed Polkadot (DOT) parachain network – is reportedly making strides towards finalization after going through a Polkadot-based BTC bridge development for two years. 

Specifically, details related to its official roll-out across its sandbox platform Kusama were reportedly disclosed. 

Furthermore, Interlay reportedly completed the integration with  a Wrapped Bitcoin (wBTC) digital asset, referred to as kBTC, on their Canary parachain Kintsugi.

Trading for the asset is reportedly already supported on two different Polkadot parachains – Karura, governed by Acala, and Moonriver, governed by Moonbeam.

Expectations are for Interlay to be on the search for deployment of its technology throughout both Cosmos and Ethereum throughout the coming year, in an attempt to improve interoperability between chains.

“There is 14 billion USD worth of Bitcoin ‘DeFi’ on Ethereum, controlled by a handful of centralized custodians, behind KYC, with no remedy for users or DApps if something goes wrong. Even big players like Maker, Compound and Aave implicitly trust a few tradiFi institutions.” Alexei Zamyatin, the co-founder and Head of Interlay, further remarked. 

The initiative creation of this initiative reportedly received financial assistance via an unrevealed amount from a Web3 Foundation grant issued in March two years ago.

With this development, the interoperability initiative was reportedly involved in two capital injections, both a $3 million seed round in July last year and and a pre-Series A $6.5 million round later in December. 

At the time of the latter, the founder and Head of lead contributor DFG Capital, James Wo, remarked that Interlay’s solution will “expand the cross-chain possibilities for Bitcoin.”