dWallet Network integrates with Celo to enhance multi-chain interoperability for DeFi applications

Announcing partnership between dWallet Network and Celo bringing native Multi-chain DeFi to Celo ecosystem

dWallet Network integrates with Celo to enhance multi-chain interoperability for DeFi applications

dWallet Network, the infrastructure for programmable native Bitcoin, today announced it will support Celo, the mobile-first and EVM-compatible blockchain network that’s built for the real world and designed for fast, low-cost payments worldwide.

dWallet Network will enable developers within the Celo ecosystem to harness non-collusive and massively decentralized building blocks to create natively multi-chain DeFi applications. This integration uniquely positions Celo as an optimal EVM-compatible environment for leveraging dWallet’s technology, offering developers unmatched efficiency and scalability by providing native programmability of assets and enforcement of any logic across any network.  

dWallet is a new fundamental building block that enables control over any asset and the enforcement of any logic across any network. dWallets uses cryptographic signatures, traditionally the default way to authenticate to blockchain networks, so a signature generated by a dWallet is indistinguishable from a signature of a regular user from a network perspective.

This unique capability means the logic enforced by a dWallet extends to non-smart contract networks, such as Bitcoin, enabling programmability while upholding the critical Web3 principles of decentralization and user ownership. dWallets represent a step forward in realizing truly user-centric, interconnected and flexible blockchain infrastructure.

"The deployment of dWallet’s smart contract functionality on Celo furthers accessibility through multichain interoperability,” said Isha Varshney, Head of Ecosystem at the Celo Foundation. “Developers will be able to leverage an expanded range of native assets on Celo, such as BTC, to unlock a wide array of DeFi use cases built for the real world.” 

The Significance of Integrating With Celo 

Celo is an EVM-compatible Layer 1 blockchain migrating to an Ethereum Layer 2. The mobile-first blockchain has a robust ecosystem of builders developing mobile-first solutions for decentralized payments, notably in areas where crypto adoption is highest, such as the Global South. The forthcoming transition to an Ethereum L2 will enhance the Celo’ecosystem’s seamless composability across systems, which will be furthered by dWallet’s network support.

"Omer Sadika, Co-Founder of dWallet Network, expressed his excitement about the integration, stating, "We are excited to deploy on Celo and bring our decentralized, non-collusive dWallet building block to the Celo ecosystem. This deployment not only broadens the horizons for DeFi on Celo but also represents a next step towards realizing Celo’s vision of seamless composability across systems."

The integration of dWallet’s primitive means that applications built on Celo can natively sign transactions with other networks using the ECSDA signature scheme, which includes Bitcoin, Ethereum and many more. Both the edDSA and Schnorr signature schemes will be supported in the near future.

The result is that users from Celo can now natively access BTC, ETH, SOL, and more, bringing increased security and programmability to the Celo ecosystem. This is all possible via dWallet’s non-collusive, decentralized multi-chain layer––and it is just the beginning.