For over a decade, Bitcoin has stood as the apex of digital sound money; secure, censorship-resistant, and provably scarce. Yet, in the realm of decentralized finance, it often plays the role of a silent observer. Despite being the most valuable asset in crypto, Bitcoin remains underutilized in “onchain” ecosystems where innovation thrives.
That paradox is precisely what Threshold Network is addressing through tBTC, a fully decentralized and trust-minimized Bitcoin bridge. Now live across eight different chains, including Ethereum, Arbitrum, Solana, and most recently Starknet — tBTC is emerging as a critical infrastructure layer for enabling Bitcoin to function as capital in Web3.
At the heart of this effort is MacLane Wilkison, Co-Founder and CEO of Threshold Network. In a conversation that blends vision, technical clarity, and strategic intent, Wilkison sheds light on how tBTC redefines Bitcoin’s role in DeFi and why its expansion to Starknet is far more than just another deployment, it’s a signal of where decentralized finance is headed next.
“tBTC is the longest-running decentralized and trust-minimized wrapped Bitcoin,” Wilkison explains. “Most wrapped BTCs, such as wBTC — rely on centralized custodians before your Bitcoin can access DeFi. With tBTC, your BTC is secured by a 51-of-100 threshold signer network, with no single point of failure and no trusted intermediary.”
That distinction, trust-minimized by design is at the core of tBTC’s philosophy. Everything is onchain, transparent, and cryptographically verifiable, from the signing quorum to the reserves that back every minted token. Unlike traditional wrapped assets that compromise on decentralization to reach DeFi utility, tBTC bridges that gap without sacrificing Bitcoin’s ethos.
The decision to integrate with Starknet represents a significant milestone. Starknet, a ZK-rollup Layer 2 built on Ethereum, is fast becoming a hub for next-gen DeFi protocols — especially those prioritizing scalability, low fees, and cryptographic integrity. For Threshold, the move is both strategic and ideological.
“Starknet is one of the most advanced ZK-rollup Layer 2s and is rapidly becoming a home for serious DeFi innovation,” Wilkison says. “Integrating tBTC here aligns perfectly with Threshold’s mission of bringing trust-minimized BTC liquidity to every major chain — especially L2s where Bitcoin can be used with low fees and scalability. Starknet’s focus on decentralization and long-term architecture matches our values.”
Beyond the tech stack, there’s a larger vision at play: turning tBTC into the default decentralized bridge for Bitcoin, the gold standard for moving BTC into DeFi ecosystems. Wilkison emphasizes that Threshold is not just chasing expansion for its own sake, but building the foundation for a composable, multi-chain financial future.
“The long-term strategy is to be present wherever DeFi happens — to meet users where they are and to enable native BTC to move freely and securely across all chains, with no compromise.”
This approach, pragmatic, multi-chain, and end-user focused — isn’t just about access. It’s about empowering Bitcoin to serve as real capital in an open financial system. And if Starknet is to become a legitimate Layer 2 for Bitcoin, as some in the ecosystem speculate, tBTC will be a crucial part of that evolution.
“Bringing trustless BTC liquidity to Starknet is foundational for its ambition to serve as a Bitcoin L2,” Wilkison notes. “Now BTC holders can mint tBTC directly on Starknet, use it in DeFi apps, and settle back to Bitcoin — all while maintaining Bitcoin’s decentralization.”
At a technical level, the process for minting tBTC on Starknet is designed for transparency and resilience. When a user initiates a deposit, the Bitcoin is sent to a unique, threshold-secured BTC address. Once confirmed on the Bitcoin network, a decentralized multi-party computation (MPC) signer network validates the deposit and mints tBTC on Starknet.
“Unlike centralized bridges, there is no custodian,” Wilkison explains. “BTC is controlled by an MPC signer quorum, which is fully transparent and has no single point of failure. It’s trust-minimized by design.”
Yet despite these innovations, the problem remains stark. Bitcoin is still massively underrepresented in DeFi. Out of over 19 million BTC in circulation (worth over $2 trillion), only around 180,000–220,000 BTC, or about 1.15%, are currently active in DeFi. This, Wilkison argues, is a structural misalignment that tBTC is aiming to solve.
“This is what it means to be underutilized in a DeFi market valued now at $120 billion,” he says. “tBTC is changing that by providing a bridge to DeFi that is maximally aligned with Bitcoin’s ethos of trust minimization as possible, along with a seamless UX that delivers BTC to every user’s ecosystem of choice.”
But why does decentralized Bitcoin liquidity matter in the first place? For Wilkison, the answer is philosophical as much as it is practical.
“Bitcoin is the world’s most neutral and censorship-resistant monetary asset. Looking ahead, if DeFi turns into a genuine global alternative financial system, it’s essential that Bitcoin liquidity can flow into it seamlessly. What’s at stake is whether BTC remains locked in siloed custodial systems, like centralized bridges or ETFs, or whether it becomes programmable, composable capital within an open, decentralized financial stack.”
That open stack isn’t just a playground for retail traders anymore. Institutions are beginning to take notice, cautiously, perhaps, but with increasing clarity.
“Yes — we’re seeing early signs,” Wilkison confirms. “Especially among funds and firms seeking yield on BTC in a trust-minimized way. Institutions value transparency and safety, particularly when managing large amounts of capital, and they are increasingly aware of the risks associated with centralized custodial models.”
The road to building tBTC across eight networks has come with hard-won lessons. Each chain has its own quirks — from fee markets to consensus to community norms. One insight, however, stands out.
“One key lesson is the importance of deep ecosystem collaboration — success comes from building with local DeFi partners, not just dropping a token and leaving,” says Wilkison. “On Starknet, we’re embedding tBTC natively, working with DEXs, lending protocols, and core infra teams to ensure organic adoption.”
Looking ahead, Wilkison believes we’re only scratching the surface of what “Bitcoin DeFi” — or BTCFi — can become. Beyond wrapped BTC in lending pools or collateral vaults, he sees new frontiers emerging: BTC-backed stablecoins, structured yield products, and multi-chain collateral frameworks that treat Bitcoin not just as an asset, but as programmable liquidity.
“BTC-backed stablecoins and BTC as pristine collateral in multi-chain DeFi,” he emphasizes. “Additionally, Bitcoin-native yield products — structured products that enable BTC holders to earn while remaining exposed to BTC. The next cycle will be about making these user-friendly and mainstream.”
At its core, tBTC is not just a bridge. It’s a statement about what kind of future we want for decentralized finance. And for Wilkison, that future is defined by sovereignty.
“Bitcoin is the most censorship-resistant asset we have. DeFi is the most permissionless financial system we’ve built. Combining the two unlocks a future where money and finance are free, open, and sovereign. That mission is what keeps me excited.”
Five years from now, Wilkison envisions a world where billions in decentralized BTC liquidity flow frictionlessly across chains. Where Bitcoin is no longer sidelined in cold storage or locked in ETFs, but instead becomes a foundational layer in the global onchain economy.
“Success is billions in decentralized BTC liquidity moving seamlessly across chains,” he says. “tBTC becomes the default Bitcoin bridge for serious DeFi users and institutions. Bitcoin is a first-class citizen of DeFi — no longer sidelined, but actively driving value in an open, global financial system.”
Threshold Network is doing more than just expanding Bitcoin’s reach. It is reshaping how Bitcoin fits into the future of finance. By unlocking Bitcoin’s programmability and enabling it to move seamlessly across decentralized ecosystems, Threshold is paving the way for BTC to evolve from a static store of value into a dynamic, composable asset that actively participates in the DeFi revolution.
This is a crucial step toward a truly open and permissionless financial system where Bitcoin’s unique qualities; security, neutrality, and censorship resistance, can fully shine and create real-world impact. In redefining Bitcoin’s role, Threshold is not only broadening its utility but also securing its place as a foundational pillar of the decentralized economy to come.
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