Wanchain Facilitates Vechain's Growth in Decentralized Finance Across Different Blockchains
In a significant move, VeChain, the enterprise blockchain platform, is venturing into the decentralised finance (DeFi) industry, partnering with Wanchain to leverage its cross-chain technology. This partnership is expected to position VeChain as a competitor in volume with the top 10 most-used bridges, according to DefiLlama.
The cornerstone of this partnership is the Wanchain Bridge, which links VeChainThor with over 40 blockchains, including Bitcoin, Ethereum, Solana, and BNB Chain. This decentralised bridge facilitates cross-chain asset transfers and interoperability for VeChain's tokens (VET, VTHO, B3TR) and wrapped assets like wBTC and wETH. The bridge uses multisig-audited smart contracts, enhancing security for cross-chain swaps.
This connectivity integrates VeChain into DeFi ecosystems, allowing VeChain assets to flow into decentralised finance markets through wrapped stablecoins like USDC and USDT on other chains. This expansion of liquidity enables arbitrage opportunities and boosts the ecosystem's overall efficiency.
The Wanchain Bridge's impact on DeFi is multifaceted. It improves interoperability and cross-chain asset fungibility, increasing VeChain's utility beyond supply chain use cases. It also provides access to a wider liquidity pool and DeFi protocols on major blockchains, fostering adoption and price discovery.
Moreover, the recent upgrades to VeChainThor enhance scalability and transaction capacity, allowing smoother DeFi interactions at low cost. The partnership also brings institutional participants like BitGo (custody) and Krock (market making/validator) into VeChain’s ecosystem, further boosting liquidity and market efficiency.
The Wanchain-VeChain partnership significantly enhances VeChain’s DeFi impact by enabling secure, scalable multi-chain connectivity and asset flow across major ecosystems. This cross-chain interoperability aligns with both projects’ roadmaps targeting improved utility, governance, and scalability in a multi-chain DeFi environment.
Wanchain's cross-chain infrastructure is built on industry-wide standards and specifications, and its bridge enables VeChain to integrate with the most prominent DeFi applications from 40 different chains. As of now, the total value locked (TVL) of all the DeFi apps currently connected to VeChain, thanks to the Wanchain Bridge, is over $116 billion.
Wanchain is a global leader in decentralised blockchain interoperability, having processed hundreds of thousands of transactions and billions in cross-chain volume to date, with an industry-leading security track record. The platform of interchain bridges connects over 40 major networks, including Bitcoin, Ethereum, and now VeChain.
VeChain, with a market cap exceeding $1.8 billion, has achieved MiCAR compliance to operate in Europe and launched a new staking platform with over $84 million in assets. The company is also forming partnerships, such as the recent one with Visa, to introduce the Stella Pay card, allowing users to spend their tokens at any point of sale.
For more information about Wanchain and VeChain, visit wanchain.org and vechain.org, respectively. Both projects remain committed to driving blockchain adoption and fostering a more integrated and efficient DeFi landscape.
- VeChain, an enterprise blockchain platform, is partnering with Wanchain to leverage Wanchain's cross-chain technology, aiming to compete in volume with the top 10 most-used bridges in the decentralised finance (DeFi) industry.
- The Wanchain Bridge, a central aspect of this partnership, connects VeChainThor with over 40 blockchains, including Bitcoin, Ethereum, Solana, and BNB Chain, facilitating cross-chain asset transfers and interoperability for VeChain's tokens and wrapped assets.
- This partnership is expected to position VeChain as a competitor in volume with the top 10 most-used bridges, according to DefiLlama, and is intended to enhance VeChain's utility beyond its traditional supply chain use cases.
- The Wanchain Bridge uses multisig-audited smart contracts, enhancing security for cross-chain swaps, and allowing VeChain assets to flow into decentralised finance markets through wrapped stablecoins like USDC and USDT on other chains.
- The recent upgrades to VeChainThor improve scalability and transaction capacity, allowing smoother DeFi interactions at low cost, and the partnership also brings institutional participants like BitGo (custody) and Krock (market making/validator) into VeChain’s ecosystem.
- Wanchain's cross-chain infrastructure is built on industry-wide standards and specifications, and its bridge enables VeChain to integrate with the most prominent DeFi applications from 40 different chains, with the total value locked (TVL) of all the DeFi apps currently connected to VeChain exceeding $116 billion.
- VeChain remains committed to driving blockchain adoption and fostering a more integrated and efficient DeFi landscape, with a market cap exceeding $1.8 billion, MiCAR compliance to operate in Europe, and partnerships such as the recent one with Visa to introduce the Stella Pay card.
