Nomic, the layer one blockchain bridge, will bring Bitcoin into the Cosmos ecosystem with the “nBTC Cross-Chain Update”. The nBTC token, which will serve as the Cosmos network’s own token, can also be transferred via IBC, the Interchain Communication Protocol.

After the update, the nBTC token will be available on the Bitcoin network through the Nomic application or Cosmos applications where Nomic is integrated.

The update to Nomic is expected to take place on October 27. Activation is expected to take place on October 30.

Announced in Istanbul

The announcement was made by Matt Bell, CEO of Turbofish, Nomic’s founder and developer team, at the Cosmoverse Conference in Istanbul, which started yesterday. “Nomic will now open the capabilities and features of decentralized finance to people who are Bitcoin investors,” Bell said in a statement.

Sunny Aggarwal, founder of Osmosis, one of the DeFi exchanges in the Cosmos ecosystem, said that the ecosystem needs money to act as a store of value and that nBTC will eliminate the liquidity problem in Cosmos.

“Thanks to Nomic, the long-awaited Bitcoin-centric unity in Cosmos will be achieved,” Agrawal said.