Alliance Announcement
The Stacks Asia DLT Foundation has announced an alliance with Everest Ventures Group (EVG) and Aspen Digital to promote the Stacks protocol, a layer two (L2) technology designed for Bitcoin, throughout Asia.
This initiative is aimed at leveraging high-growth markets and strengthening connections with institutional players, bringing Stacks into the spotlight within key territories such as Vietnam, South Korea, China, and Singapore.
Goals of the Partnership
In a statement shared exclusively with Bitcoin.com News, the partnership seeks to establish Stacks as a fundamental component of the new Bitcoin utility landscape. EVG will lead the charge on creating regional awareness through targeted marketing efforts, including events for investors and collaborations with local influencers to engage with communities involved in web3.
Alongside EVG, Aspen Digital will play a crucial role in showcasing Stacks’ capabilities to affluent investors and institutions by leveraging its extensive wealth management network.
Leaders’ Perspectives
Allen Ng, Co-founder of EVG, expressed enthusiasm about the collaboration: “Our partnership with Stacks is essential for enabling builders, users, and institutions in Asia to recognize and harness the potential of a Bitcoin layer 2 solution.”
Significance of the Collaboration
This collaboration emerges during a significant phase in Bitcoin’s journey towards becoming more than merely a store of value, as it transitions into a programmable framework facilitating decentralized finance (DeFi) applications and smart contracts. The recent introduction of sBTC on the Stacks platform is particularly important, as it opens doors to unlock over $2 trillion in previously inactive Bitcoin assets.
Future Outlook
Kyle Ellicott, the Executive Director at Stacks Asia Foundation, conveyed confidence in the initiative’s vision: “We are entering an era where Bitcoin’s utility will expand significantly, and Stacks is in a prime position to capitalize on this opportunity, transcending the traditional view of Bitcoin as just ‘digital gold.'”
Collectively, these organizations aim to enhance Bitcoin’s functionality, providing new opportunities and value for developers and users throughout Asia.
