Quick overview

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Lace continues its multi-chain journey by adding support for XRP. Users gained the ability to stake ADA directly from the wallet. The light wallet, developed by one of the main creators of the Cardano blockchain, made its public mainnet debut in April 2023, and

 

Later updates introduced new features such as hardware integrations and improved connectivity for decentralized applications.  Lace enabled multi-wallet and multi-account functionality in 2024.

The Lace team announced in April that the wallet would be multi-chain, allowing for Bitcoin support. With the release of Lace 1.22, users can store and manage Bitcoin holdings on a test network.

This new feature also helps Cardano to launch Bitcoin-based decentralized finance (DeFi). Furthermore, Lace became available on Firefox, one of the most widely used browsers globally. Its Firefox extension supports staking, decentralized finance (dApp) connections, and wallet creation.

Charles Hoskinson’s 2025 roadmap highlighted Bitcoin DeFi integration, scalability enhancements through Ouroboros Leios, and improved interoperability with Chainlink.

The alliance aims to enhance data quality and make advanced financial products accessible on Cardano’s platform. By integrating with external networks and services, Cardano intends to establish a comprehensive DeFi ecosystem that supports various use cases, including lending, borrowing, derivatives, and decentralized exchanges.

This collaborative strategy will likely accelerate adoption and boost Cardano’s influence in the broader cryptocurrency market.

Charles Hoskinson recently emphasized that his company is “at the nexus” of Bitcoin DeFi, a space he describes as a “giant sleeping monstrosity.” While Ethereum and Solana have traditionally been the focal points of decentralized finance, Bitcoin’s DeFi potential remains largely untapped. Hoskinson envisions Cardano as the leading platform to bridge this gap by capitalizing on Bitcoin’s extensive market presence.