Rift has introduced a new peer-to-peer trading protocol that facilitates Bitcoin-to-EVM transactions using trusted execution environments (TEEs) for trade validation. The protocol securely holds native Bitcoin in a hardware enclave for 20 minutes, ensuring the settlement of the trade's counterpart. This method, as explained by CEO Samee Siddiqui, acts as an escrow, releasing funds only after sufficient block confirmations, thus eliminating the need for multisigs or synthetic tokens. Rift's protocol charges a 10 basis points taker fee and no maker fees, positioning itself as a more capital-efficient and faster alternative to existing cross-chain solutions like THORChain. The startup plans to integrate with wallets and DEX aggregators, focusing on backend solutions rather than consumer-facing platforms.