Layer-2

Marathon Digital is seeking partners to build a Bitcoin Layer-2 to accelerate cross-border BTC payments

ChainCatcher news, according to Cointelegraph, Bitcoin mining company Marathon Digital stated at the Bitcoin 2024 conference that cross-border Bitcoin payments are its primary development goal. Julian Duran, head of Marathon's sidechain products, revealed that the company is seeking to collaborate with blockchain developers to build Bitcoin Layer-2 solutions to accelerate cross-border BTC payments. He pointed out that in emerging markets, the average cost of cross-border remittances is 8% to 10% of the transaction amount, and settlement times typically take three to four days, while Bitcoin transactions usually settle within 10 minutes, and Layer-2 solutions can be even faster.In addition, Duran emphasized that the success of any payment solution requires strict compliance with regulatory requirements, although this may increase costs. In emerging markets, regulatory approvals are often faster and cheaper, as local governments and regulatory bodies seek better cross-border payment solutions. Besides payments, Marathon is also focusing on tokenization plans for real assets, including tokenizing whiskey barrels in the U.S. and collaborating with a platform to protect French châteaux.Currently, Marathon is one of the largest Bitcoin company holders, holding approximately 20,000 Bitcoins, valued at over $1 billion, and purchased about $100 million worth of Bitcoin just in July.
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