Bitcoin

Bitget lists pioneering dual-sided bridge MultiBit (MUBI) to propel BTC ecosystem development

Victoria, Seychelles, December 13th, 2023, Chainwire Bitget, the world’s leading cryptocurrency exchange and Web3 company, announced the listing of MultiBit(MUBI). Representing a groundbreaking step forward, MultiBit is the industry’s first dual-sided bridge, meticulously crafted to facilitate effortless cross-network transfers between BRC20 and ERC20 tokens. In a drive to enhance liquidity and cross-chain interoperability, MultiBit stands…

Victoria, Seychelles, December 13th, 2023, Chainwire

Bitget, the world’s leading cryptocurrency exchange and Web3 company, announced the listing of MultiBit(MUBI). Representing a groundbreaking step forward, MultiBit is the industry’s first dual-sided bridge, meticulously crafted to facilitate effortless cross-network transfers between BRC20 and ERC20 tokens. In a drive to enhance liquidity and cross-chain interoperability, MultiBit stands as a pioneering achievement.

Promising unparalleled ease and advanced accessibility, MultiBit offers a secure and user-friendly platform for stakeholders in the cryptocurrency space. The platform’s pivotal mission revolves around elevating liquidity and accessibility for BRC and ERC tokens while maintaining robust security measures.

Notably, MultiBit simplifies the token transfer process between Bitcoin’s BRC20 and EVM networks. Commencing with the transfer of BRC20 tokens to a dedicated BRC20 address, users then witness these tokens being readied for minting on the EVM network. However, the true innovation of MultiBit unfolds through its dual-sided bridge feature, ensuring seamless transfers from EVM networks back to the Bitcoin ecosystem. With MultiBit, bridging and minting tokens for cross-chain transfers between Bitcoin and EVM networks is an effortless and secure process.

Gracy Chen, Managing Director of Bitget, states:

“MultiBit emerges as a pivotal asset in its support of the evolving BTC ecosystem. At Bitget, we remain dedicated to advancing the web3 ecosystem, and we are glad to introduce MultiBit as part of this commitment. Our aim is not only to create a Spot Market offering an array of high-quality projects but to continue supporting the development of the web3 ecosystem.”

The addition of MultiBit to Bitget’s trading platform reflects its unwavering dedication to pioneering technological solutions that actively contribute to the burgeoning cryptocurrency ecosystem, ensuring that users have access to secure, efficient, and intelligent platforms for their financial needs.

About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 20 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and official eSports events organizer PGL.

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USAID will change its name to the US Agency for International Humanitarian Assistance (IHA)
By using blockchain technology, it will “radically increase security, transparency, and traceability”
The revamp comes after Elon Musk’s Department of Government Efficiency (DOGE) cut USAID numbers from 10,000 to just under 300 in early February

The Trump administration reportedly wants its United States Agency for International Development (USAID) to “leverage blockchain technology” as it works on renaming the organization.

According to a report from WIRED, a government memo has been circulating among State Department officials detailing plans for USAID. In the 13-page document – first reported on by Politico – it states that as part of the revamp, USAID will change its name to US Agency for International Humanitarian Assistance (IHA).

The memo also suggests “leveraging blockchain technology” which will “radically increase security, transparency, and traceability.”

It adds: “This approach would encourage innovation and efficiency among implementing partners and allow for more flexible and responsive programming focused on tangible impact rather than simply completing activities and inputs.”

USAID staffers on leave

Since US President Donald Trump re-entered the White House, significant changes have been made to organizations in the US. One of which is USAID.

In early February, USAID staff were put on administrative leave “with the exception of designated personnel responsible for mission-critical functions,” according to a government notice.

Following the implementation of Elon Musk’s Department of Government Efficiency (DOGE), staff numbers at USAID have been cut from 10,000 to just under 300.

In a post on X in February, Musk wrote: “USAID is a criminal organization. Time for it to die.”

USAID is a criminal organization.

Time for it to die. https://t.co/sWYy6fyt1k

— Elon Musk (@elonmusk) February 2, 2025

Blockchain in humanitarian efforts

The use of blockchain in humanitarian efforts has been used before with many seeing the potential is can bring. In 2020, UNICEF invested around 135 Ethereum – about $30,000 at the time – into eight companies from seven developing countries to assist in developing prototypes and to scale their projects.

Financial services company AID:Tech turned to the payment rails of stablecoin issuer Circle to provide fraud-resistant disaster relief delivery in USDC in 2021. By doing so, they wanted to reduce inequality and increase opportunities by bringing accountability and transparency to the distribution of federal relief.

Realizing the benefits of blockchain technology, AID:Tech was the first company to use the technology to deliver international aid in 2015.