Mezo Launches Mainnet Enabling Bitcoin Users to Access Value Without Selling

Blockchain venture studio Thesis, backed by Pantera Capital and Hack VC, has launched the mainnet of its Bitcoin layer-2 network, Mezo. This platform is designed to enable users to unlock practical utility in their Bitcoin holdings, effectively allowing them to become their own bank. The project, which debuted its testnet last year following a $21 million fundraising round led by Pantera, aims to create a circular economy powered by Bitcoin.
Mezo allows users to use their Bitcoin as collateral to mint and spend its native stablecoin, MUSD. This feature addresses a significant barrier to wider Bitcoin adoption: the reluctance of users to sell or spend their Bitcoin due to concerns about losing value tied up in their holdings. By providing a way for users to access the value of their Bitcoin without selling it, Mezo aims to make Bitcoin a more practical form of money beyond just a store of value.
Matt Luongo, CEO of Thesis, highlighted the benefits of Mezo, stating, "Holders haven’t had many options to actually use their Bitcoin without giving it up. With Mezo, I can park my BTC, access a credit line, and live my life. This is what being your own bank was always meant to look like. It finally lets HODLers have their cake and eat it too."
Mezo has partnered with several crypto platforms to provide various use cases. For instance, e-commerce store Bitrefill offers gift cards for MUSD, and the BTC finance app Fold provides a cashback debit card and Bitcoin rewards. These partnerships enhance the utility of Mezo, making it a more versatile platform for Bitcoin users.
In summary, the launch of Mezo's mainnet represents a significant step forward in the development of a circular Bitcoin economy. By enabling users to unlock the value of their Bitcoin holdings without selling them, Mezo addresses a key barrier to wider Bitcoin adoption. The platform's partnerships with various crypto platforms further enhance its utility, making it a promising development in the Bitcoin ecosystem.

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