The new bridge will allow Ren’s ERC-20 representations of BTC, BCH, DOGE, FIL, LUNA, ZEC and DGB, which can now be transferred onto the Polygon network.

The launch of the new Polygon x RenVM Bridge was announced on Twitter by Polygon on Thursday, which emphasized the bridge will allow Bitcoin (”>BTC) and other assets to be used on the high-speed and low-cost layer-two network.

Ren and Polygon have teamed up to launch a bridge allowing BTC and other assets to be transferred between Bitcoin and the Ethereum scaling solution.

Ren’s ERC-20 representations of Bitcoin, Bitcoin Cash (” data-amp=””>BCH), Dogecoin (” data-amp=””>DOGE), Filecoin (FIL), Terra (LUNA), Zcash (” data-amp=””>ZEC) and DigiByte (DGB) can now be used on the Polygon network. The assets can be traded and pooled on Polygon-based decentralized exchange QuickSwap, with the Ren team also hinting at future yield opportunities for the tokens on Polygon deployments of Curve Finance and BadgerDAO.

Speaking to Cointelegraph, a Ren representative indicated the team plans to launch more bridges to high-speed scalable networks in the near future.

Since” data-amp=””>launching the RenVM one year ago, Ren has emerged as a leading portal allowing wrapped versions of Bitcoin, Bitcoin Cash, Zcash and other layer-one assets to be traded on the Ethereum mainnet. Roughly $246.3 million worth of assets were bridged using RenVM over the past seven days.

According to DeFiLlama, the RenVM is currently the 30th-largest decentralized finance protocol with a total value locked of $573 million.

Polygon has recently emerged as the leading layer-two scaling solution by TVL and the second-largest decentralized finance protocol overall with roughly $10.3 billion worth of assets currently held on the network. On Tuesday, it was announced that famed billionaire investor” data-amp=””>Mark Cuban had invested in Polygon.

However, competition among layer twos is heating up, with Arbitrum targeting its” data-amp=””>mainnet launch for Friday, and Optimism aiming to go live in July.