According to an announcement during the Cosmoverse 2023 conference on October 3, users can transfer Bitcoin to the Cosmos network through Osmosis’ Nomic Bridge for a fee of 1.5% of the transaction value. Users then receive Nomic Bitcoin (nBTC), an IBC-compatible token issued by Nomic Chain, on a 1:1 basis. nBTC can be bought and sold and used to provide liquidity on Osmosis. They are also available in more than 50 Cosmos-linked application chains. Sunny Aggarwal, co-founder of Osmosis, said: “Bitcoin badly needs an applied DeFi ecosystem, while Cosmos needs a base currency asset as its primary store of value. Nomic will help people create the long-awaited Bitcoin-centric Cosmos The alliance becomes a reality.” The nBTC cross-chain upgrade will be released on October 27th and is expected to be activated on October 30th.