SideSwap Announces Compatibility with Digital Asset Platform That Will Power El Salvador’s Bitcoin Bonds
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SideSwap, a Liquid Network wallet and asset swapping service provider, is now compatible with Blockstream’s Asset Management Platform (AMP).
What is AMP?
AMP is Blockstream’s asset management platform that allows for the issuance and management of digital assets on the Liquid Network. With AMP’s API, users are able to issue choose between different asset characteristics depending on their requirements.
AMP can be used to issue:
- Standard Liquid Assets – these are regular Liquid assets which are permissionless and confidential.
- Issuer-Tracked Assets – they allow the issuer to track ownership of the asset with no restrictions on ownership.
- Transfer-Restricted Assets – these can only be transferred to users approved by the issuer.
AMP has been used to issue tokenized securities such as the Blockstream Mining Note (BMN) which is a Transfer-Restricted Asset. El Salvador’s Bitcoin Bond will also be issued as a tokenized security on the platform. The BMN was sold on digital investment marketplace Stokr and can be traded in the secondary market peer-to-peer between individuals who have an whitelisted AMP ID while El Salvador’s Bitcoin Bond will be sold and traded on Bitfinex.
What is SideSwap?
SideSwap is a payment infrastructure services provider for the Liquid Network that allows users to hold their own keys to, as well as swap or trade, Liquid Network assets. While utilizing the sidechain, bitcoin is settled on the base layer in order to create and burn L-BTC on the Liquid Network. Using the Liquid Network sidechain gives users better privacy and provides fast and final settlement with low transaction fees.
Why Does AMP Compatibility With SideSwap Matter?
With the integration of AMP and SideSwap, users will be able to exchange their funds very quickly for as low as a 0.1% fee. This allows users to have access to stablecoins like USDT and EURx in order to make daily purchases or hold their funds for short periods of time until spent. The opposite scenario would be if a user wanted to hold their funds long term by converting their L-BTC to BTC.
With the AMP and SideSwap integration, having access to both savings and spending options for worldwide use enables faster and cheaper transactions for issuers and holders of securitized tokens and other assets issued on the Liquid Network.
BMN holders can also now access SideSwap’s swap markets by importing their Blockstream Green wallet seed.
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