Starknet to launch new Bitcoin-based asset, strkBTC

Ethereum Layer 2 network Starknet plans to launch a new Bitcoin-based asset called strkBTC, The Block reported. The project aims to go beyond simply bridging Bitcoin to Starknet by enhancing both user privacy and DeFi utility. The new asset will allow users to conceal transaction amounts and counterparties while enabling interaction with DeFi platforms on Starknet.