Strategic step forward

DeFi activity has grown rapidly this last year, and Interlay became one of the most avantgarde Defi interoperability players in the space. In that context, the newly signed partnership with GSR, a leading global market maker for cryptocurrency spot and crypto derivatives markets, comes as no surprise in the Interlay business expansion.

Focused on interoperability and connecting cryptocurrencies like Bitcoin to DeFi platforms as Polkadot, Ethereum, and Cosmos, Interlay has grown in the last two years from a few-men company, kickstarted with a grant from Web3 Foundation, to a fully-fledged business. Its flagship product is interBTC, a fully decentralized 1:1 Bitcoin-backed asset.

Leveraging a team of seasoned veterans in trading, quantitative investments, and trading technology, GSR will support the Interlay team with its robust set of liquidity solutions, while Interlay’s efforts are towards expanding DeFi interoperability.

The partnership with GSR follows Interlay’s successful $6.5 million funding to develop further and accelerate DeFi on Polkadot, Cosmos, Ethereum, and more. It is a logical step for Interlay after the success at the Kusama parachain auctions, winning a slot for the Kintsugi canary network, and currently competing in the Polkadot parachain auctions.

GSR partnering for DeFi future

GSR is one of the largest market makers in crypto and crypto derivatives, so the partnership with Interlay will evolve more broadly around key offerings like:

Liquidity solutions ranging from basic execution services to structured products

Risk management strategy to reduce volatility, define and constrain risk parameters

Programmatic execution strategies adjusted to real-time asset liquidity and volatility.

Sharing a commitment to fair, robust, and liquid blockchain business, the partnership with GSR is a decisive step towards furthering the success of Interlay’s mission. It aims at bringing the genesis and the future together, expanding the cross-chain possibilities for Bitcoin and other assets in the most advanced, decentralized, and interoperable protocols on the blockchain and beyond.

About GSR

GSR, founded in 2013, is a global leader in digital asset trading specializing in providing liquidity, risk management, and structured products to global participants in the digital asset ecosystem.

GSR works with issuers, traders, investors, miners, and exchanges around the world. As a founding member of The Association for Digital Asset Markets (ADAM), GSR is also a leader in establishing and maintaining industry standards and protocols to support the healthy development and evolution of the global digital asset industry. To learn more about GSR, please visit www.gsr.io

About Interlay

We envision a future where blockchains seamlessly connect and interact: anyone can use any digital asset on any blockchain, trustless and without limitations. We work with Bitcoin, Ethereum, Polkadot, Cosmos, and others to expand interoperability, capital efficiency, and openness.

Our flagship product is interBTC — Bitcoin on any blockchain. A 1:1 Bitcoin-backed asset, fully collateralized, interoperable, and censorship-resistant, realizing the true free nature of BTC and decentralized finance. Kintsugi is our canary network on Kusama — the innovation hub of the Interlay network. Follow our Twitter, Telegram, and Discord to keep up to date with daily updates from the team, or visit our website.