Web3 Foundation announces funding for Interlay to build a parallel chain that connects Bitcoin assets and Polkadot

According to CoinDesk, the Web3 Foundation announced funding for London-based developer Interlay to establish a "BTC-Parachain" system that will bring Bitcoin-backed assets to Polkadot. The company said in a Medium article on Thursday that the parachain uses its proprietary XCLAIM framework and leverages a dynamic set of mortgage brokers.