In a major leap forward for Bitcoin and DeFi, Cardano founder Charles Hoskinson has introduced the Cardinal Protocol, the first truly decentralized Bitcoin DeFi platform to launch on Cardano.

Built by Input Output HK (IOHK), this new system lets Bitcoin holders wrap their UTXOs and jump into DeFi activities like borrowing, lending, and trading without intermediaries.

This development signals potential growth opportunities and a new era for decentralized finance, enabling increased integration and functionality for Bitcoin within the Cardano network.