MULTIBTC is primarily used to extend the utility of Bitcoin across different blockchain ecosystems. Key use cases include:

1. Cross-Chain Transfers: MULTIBTC allows the movement of Bitcoin across different blockchains, enabling users to leverage their BTC in a broader range of applications.

2. DeFi Integration: Holders can use MULTIBTC in DeFi protocols on various chains to participate in activities like lending, borrowing, and staking, or to provide liquidity on decentralised exchanges (DEXs).

3. Liquidity Provision: By converting BTC to MULTIBTC, users can contribute to liquidity pools on different DeFi platforms, earning rewards and transaction fees.

4. Enhanced Utility: The tokenisation of BTC as MULTIBTC facilitates its use in smart contracts and various blockchain services that are not natively available on the Bitcoin network.

Multichain BTC is developed by the Multichain team, which was initially known as Anyswap. The platform was launched in July 2020 to address the need for cross-chain interoperability. The rebranding to Multichain in December 2021 reflected a broader vision for cross-chain interactions.

Key figures behind Multichain include Zhaojun Zhang, who is a co-founder and was actively involved in the development and expansion of the protocol. Zhang played a significant role in steering the platform towards becoming a leading cross-chain infrastructure solution. Other notable contributors include a team of developers and blockchain experts who focus on enhancing cross-chain functionalities and the secure management of digital assets.

Multichain has gained support from various blockchain communities and investors, contributing to its growth as a decentralised and community-driven project.