[Exclusive Interview] MoreMarket CEO: "Maximizing Profits with Bitcoin (BTC) and XRP in DeFi"

# Altan Tutar, Co-Founder of More Markets, on Unlocking Dormant Blockchain Assets Through DeFi ### "Transforming Idle Assets into Active Yield Generators with DeFi" ### "From Bitcoin to Multiple Blockchain Integrations" [Block Media Reporter Oh Soo-hwan] “Decentralized Finance (DeFi) has been perceived as exclusive to the Ethereum ecosystem, rooted in protocols like Aave, Compound, and Uniswap. However, significant assets like Bitcoin (BTC) and XRP (XRP), valued in the hundreds of billions, have been left untapped. It’s crucial these assets start generating on-chain yield. DeFi must be accessible across the entire blockchain ecosystem, not just Ethereum.” Altan Tutar, Co-Founder and CEO of More Markets, emphasized this during an interview with *Block Media* at the ‘BUIDL Asia 2025’ event on October 16 at the Lotte Signiel Hotel in Jamsil, Seoul. Tutar stated, “Currently, trillions worth of digital assets are lying dormant, generating no yield. More Markets aims to mobilize these assets into economic activity.” ### Challenges of Ethereum-Centric DeFi for Non-ERC-20 Assets The prevalent DeFi ecosystem is Ethereum-centric, benefiting primarily ERC-20 assets. Bitcoin, XRP, and Dogecoin, lacking native smart contract capabilities, face hurdles in integrating with DeFi services. Despite their large holder bases, these assets struggle to find effective utilization within the current framework. Protocols like Wrapped Bitcoin (WBTC) allow Bitcoin holders to engage with Ethereum’s DeFi by depositing Bitcoin with a central entity, receiving ERC-20 tokens in return. These tokens simulate Bitcoin within Ethereum’s ecosystem. However, centralizing control introduces significant risks including mismanagement, operational mistakes, or hacking. ### Decentralizing the Asset Wrapping Process Tutar explained, “Conventional wrapping involves centralization, posing risks like hacking and internal fraud. We sought a mechanism to incorporate these assets into DeFi without such vulnerabilities. At More Markets, we developed a method to keep assets on their native chains while issuing tokens on other chains through message validation, avoiding centralized custody.” ### The Innovation of Near Chain Signature Technology To fulfill its vision, More Markets launched ‘Near Chain Signature’ technology. Bitcoin and XRP, which lack smart contract support, cannot detect deposits automatically. Near Chain Signature technology allows proof of asset deposits via user signatures, facilitating cross-chain communication. Tutar elaborated, “Users deposit assets to a specific address, create signature data, and transmit it to another blockchain. More Markets verifies this signature and issues tokens for DeFi use while retaining the original assets on their chains. This obviates the need for centralized custodians or cross-chain bridges.” ### Overcoming Synchronization Challenges While Near Chain Signature introduces significant improvements, it also presents synchronization challenges. Issuing new tokens backed by original assets without transferring them physically requires precise chain synchronization. Ensuring real-time signature data verification and asset status alignment is pivotal to avoid discrepancies between original and issued token values. Tutar acknowledged these difficulties, noting, “Exact synchronization between the original and secondary chains is crucial as assets stay on their native chain while new tokens are issued elsewhere. We are prioritizing synchronization accuracy to maintain real-time price alignment and consistency in asset values.” ### Expanding the Horizon Beyond Bitcoin Tutar concluded, “We are preparing to launch services shortly, allowing users to deposit assets and engage in DeFi. Initially, we will support assets like Bitcoin, XRP, and Dogecoin, with plans to include additional chains progressively.” More Markets’ innovative approach could unlock vast pools of dormant assets, integrating them into DeFi and expanding the ecosystem beyond its current Ethereum-centric boundaries.