Lace, the non-custodial Web3 wallet developed by Input Output (IO), has officially expanded beyond the Cardano blockchain, adding support for Bitcoin. This marks a significant step toward a multichain future, allowing users to securely store, manage, and transact BTC within the wallet’s interface.

As per reports, the integration comes at a time when Bitcoin’s role in decentralized finance (DeFi) is gaining traction. Despite being the foundation of the crypto industry, Bitcoin’s DeFi ecosystem remains in its early stages.

However, with the rise of Bitcoin Layer 2 solutions and Bitcoin-native smart contracts, interest in expanding its utility beyond a store of value is increasing. Lace’s move aligns with this trend, positioning the wallet as a bridge between different blockchain networks.

Lace users can now manage BTC in a trusted Web3 environment, signaling the wallet’s ambition to become a comprehensive multichain platform. The integration not only enables BTC transactions but also prepares users for the next wave of Bitcoin-based innovations, including Layer 2 scaling solutions and new DeFi applications.

Brandon Wolf, General Manager at Lace, emphasized the broader vision for blockchain interoperability.

“The future of blockchain is multichain, and with Lace, we’re making sure users have everything they need in one powerful, easy-to-use wallet. Building on the foundations we have established with Cardano, we identified Bitcoin as the logical next step. And we’re just getting started,” he said.

The expansion is not limited to Bitcoin. IO has indicated that Lace will continue integrating more blockchains, assets, and DeFi opportunities, further broadening its capabilities. The move underscores a growing industry shift toward interoperability, a concept championed by IO’s CEO, Charles Hoskinson.

According to journalist Eleanor Terrett, Bitcoin’s increasing involvement in DeFi has drawn attention from both developers and regulators. The Lace integration could add to the momentum of Bitcoin’s evolving role in Web3, especially as more projects look to leverage its security and liquidity for decentralized applications.

With Bitcoin now part of the Lace ecosystem, the wallet’s multichain journey is officially underway. The move is seen as a step toward simplifying Web3 interactions, making blockchain assets more accessible to users navigating the evolving digital economy.

Editorial Note: This news article has been written with assistance from AI. Edited & fact-checked by the Editorial Team.