Key Highlights

• Blockchain venture studio Thesis, backed by Pantera Capital and Hack VC, has officially introduced the mainnet for its Bitcoin layer-2 network, Mezo.
• Mezo is designed as a Bitcoin finance platform aimed at enabling users to leverage practical applications of BTC, allowing them to effectively become their own bank.
• Users can utilize their BTC as collateral for minting and utilizing Mezo’s native stablecoin, MUSD, hence fostering a self-sufficient economy driven by Bitcoin.

Mezo’s recent testnet launch followed a successful fundraising round totaling $21 million, led by Pantera. The platform aims to address challenges in Bitcoin adoption by allowing holders to spend their BTC without liquidating their assets. Matt Luongo, CEO of Thesis, stated:

“Holders haven’t had many options to actually use their bitcoin without giving it up. With [Mezo], I can park my BTC, access a credit line and live my life. This is what being your own bank was always meant to look like. It finally lets HODLers have their cake and eat it too.”

The platform has partnerships with various crypto services, such as Bitrefill, which sells gift cards for MUSD, and Fold, a BTC finance app offering cashback debit cards with Bitcoin rewards.

For more insights, see the article here.