For the First Time, Charles Hoskinson Launches Bitcoin DeFi that Can Be Used on Cardano!

Jakarta, Pintu News – Charles Hoskinson, founder of Cardano, recently launched Cardano’s first DeFi Bitcoin protocol called Cardinal Protocol. This innovation allows the use of Bitcoin (BTC) in the decentralized financial ecosystem on Cardano without the need for a third party as a custodian.

The protocol was developed by InputOutput HK and promises a new way of interacting with crypto assets.

Check out the full information here!

Cardinal Protocol: The New Bridge between Bitcoin and Cardano

The Cardinal protocol introduces the concept of Wrapped UTXO that allows users to earn DeFi proceeds using Bitcoin (BTC). With this technology, users can lend, borrow, stake, and farm Bitcoin (BTC) in Cardano.

This Wrapped UTXO can be burned to recover Bitcoin (BTC) or Ordinals, which adds flexibility to its use. The MuSig2 technology used in the Cardinal Protocol facilitates secure and transparent peg-in and peg-out transactions.

This ensures that all transactions can be clearly verified, increasing trust and security in making transactions on various blockchains such as Ethereum , Solana , and Avalanche .

Read also: Price of 1 Pi Network (PI) in Indonesia Today (11/6/25)

Integration with DEX and Security Enhancements

Cardinal uses BitVMX for off-chain verification that integrates with Cardano smart contracts. This allows users to interact with DEXs such as MinswapDEX, SundaeSwap, and Fluid Tokens. Users can farm and trade Bitcoin (BTC) based assets, as well as lend their funds more efficiently.

The use of Ordinals as loan collateral adds a new dimension to the utilization of digital assets. Ordinals can be exchanged or auctioned on other blockchains without losing their history, opening up new opportunities for liquidity and security in DeFi transactions.

Also read: Gold vs Bitcoin (BTC) Price Today June 11, 2025, which is more profitable?

Future Vision and Protocol Enhancement

According to Romain Pellerin, CTO of InputOutput HK, although the Cardinal Protocol already provides a lot of progress, there is room for further improvement. The addition of zero-knowledge proofs, better wallet connections, and increased liquidity will take the Cardinal Protocol to the next level in the DeFi ecosystem.

This move not only reinforces Bitcoin’s (BTC) position as “the people’s money” as Robert Kiyosaki would say, but also puts Cardano at the forefront of the growing DeFi sector. As such, Bitcoin (BTC) owners now have more options to utilize their assets within the broader financial ecosystem.

Conclusion

The Cardinal protocol by Charles Hoskinson opens a new chapter in the use of Bitcoin (BTC) in the DeFi world. By eliminating the need for third-party custodians and increasing security and transparency, Cardinal promises to revolutionize the way we interact with crypto assets. Going forward, with planned enhancements, the Cardinal Protocol is expected to become the new center of DeFi activity in Cardano.

That’s the latest information about crypto. Follow us on Google News to stay up-to-date on the world of crypto and blockchain technology.

Enjoy an easy and secure crypto trading experience by downloading Pintu crypto app through Google Play Store or App Store now. Also, experience web trading with advanced trading tools such as pro charting, various types of order types, and portfolio tracker only at Pintu Pro. Pintu Pro Futures is also available, where you can buy bitcoin leverage, trade btc futures, eth futures and sol futures easily from your desktop!

*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Crypto Times. Charles Hoskinson Launches First Bitcoin DeFi Protocol on Cardano. Accessed on June 11, 2025
• Coinpedia. Charles Hoskinson Just Made Bitcoin DeFi Possible on Cardano. Accessed on June 11, 2025
• Featured Image: The Cryptonomist