The EVM-compatible Layer 2 solution will bring a verifiably decentralized alternative to the growing Bitcoin DeFi space.

The partnership, unveiled in Cannes, debuts new proof-of-index infrastructure.

The move brings lower fees and higher earnings to traders and liquidity providers on one of crypto’s fastest chains.

If approved, Circle would be permitted to act as its own custodian and also hold digital assets on behalf of institutional partners.

The new blockchain aims to address some of DeFi’s most persistent problems: low liquidity, unreliable yields, and capital constantly flowing out of the system.

“Owning crypto is no longer a speculative position; failing to do so is,” said the founder of Edelman Financial Engines, which has $300 billion in AUM.

Ripple claims the sidechain can handle up to 1,000 transactions per second.

BTC trades flat, while ETH and SOL rally 1.5% and 4%, respectively.

The new tool aims to simplify the process of cross-chain token movement.

The approval may pave the way for the staking of other ETF assets, such as ETH and BTC.