Liquid Federation Expands its Global Presence

The Liquid Federation has broadened its global footprint by adding six new members to its consortium. Bcademy, Boltz Exchange, Equitas Foundation, JAN3, Maven, and Mifiel have officially joined the federation, according to a June 2 blog post on the Liquid Network’s official site.

This recent induction brings the Federation’s total membership to 67, significantly enhancing its global representation.

Members Join Following Board Elections

The new members joined post the Federation’s annual board election held on April 18. Each of the six companies elected a representative for the Federation’s three governing boards – membership, oversight, and technical.

The Impact of New Members on Bitcoin’s Financial Infrastructure

The addition of the new members is expected to facilitate the global growth of the Liquid Federation, encouraging innovation, and providing additional opportunities for users interacting with Bitcoin’s financial layer.

The Liquid Network anticipates that as the Federation continues to grow and mature, the unique contributions of its diverse members will further establish Bitcoin’s status as a versatile and inclusive financial ecosystem.

The Roles of the New Members

All six new companies utilize the Liquid Network in their operations.

Bcademy, based in Italy, offers Bitcoin-related educational and consultancy services. They employ Liquid’s capabilities to manage tokens, enable transfers across Bitcoin’s various layers, and provide clients access to Liquid Bitcoin through its OTC service.

Boltz Exchange operates as a non-custodial Bitcoin exchange and Lightning Service Provider, allowing Lightning node operators to balance their channels via Liquid, thereby reducing operational costs.

Maven, another new member, focuses exclusively on handling real-world assets on the Liquid blockchain. They made headlines by being the first marketplace to sell real estate as a non-fungible token (NFT), with ownership recorded on Liquid.

Binance Looks to Integrate L2 Scaling Solution

The news of these additions comes shortly after Binance CEO, Changpeng Zhao, expressed the crypto exchange’s interest in integrating the L2 scaling solution. Zhao confirmed that Binance is actively investigating the integration of the Lightning Network into its exchange platform. However, he noted that the implementation process is more complex than it may initially seem.