#What new capabilities does Breez offer to developers?
Breez has introduced a pivotal feature that allows developers to facilitate payments directly from users' Bitcoin balances to recipients in USDC or USDT. This innovation eliminates the need for end users to maintain any stablecoin holdings, streamlining the payment process significantly.
This feature operates across over 30 blockchains, transforming a traditionally cumbersome multi-step and multi-wallet process into a seamless under-the-hood operation.
#How does this feature work and why is it important?
This functionality is embedded within Breez's Software Development Kit (SDK), which serves as a comprehensive toolkit for developers creating Lightning Network-powered applications. Built on Breez's advanced Spark Layer 2 solution, the system provides instant transaction settlements along with robust support for multiple asset types in Bitcoin exchanges.
For developers creating wallets, social apps, or remittance services, this capability enables the provision of stablecoin payments to users without the necessity of managing several token balances. Breez also states that users can maintain a stable balance in terms of USD equivalent. This effectively protects them from the volatility associated with Bitcoin without actual conversion to stablecoins. The full-fledged send and receive options for stablecoins are anticipated to be available shortly, signifying a foundational advancement in Breez's payment functionalities.
#What is Breez's market presence?
Breez's SDK has already been adopted by more than 75 applications, including well-known names such as Deblock and Cake Wallet. This early adoption positions the new stablecoin routing feature for immediate traction in the market.
In December 2022, Breez secured $4.5 million in funding from various investors, including Fulgur Ventures and Ego Death Capital.
This broad blockchain support is particularly significant for remittance models, as different regions may prefer specific chains due to variations in local exchange rates and fees. For instance, a remittance application tailored for Southeast Asia may rely on stablecoin transactions over one blockchain, while a solution designed for Latin America may require a different chain. By accommodating over 30 networks in a single SDK, Breez eliminates the need for developers to make initial choices about specific blockchains, thereby enhancing their flexibility and adaptability in a dynamic market.