Flare Networks CEO Hugo Philion announced plans to scale FAssets technology to Bitcoin through the wrapped FBTC token. The system already allows converting tokens into FXRP at a 1:1 ratio, representing over 150 million tokens issued and targeting 5 billion XRP, roughly 5% of total supply, over the next six months. This expansion to Bitcoin will rely on Flare Confidential Compute technology to attract large institutional players through transaction confidentiality. The network already maintains TVL above 200 million dollars and uses the FIRE mechanism to buy back and burn its native FLR tokens.
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