Institutional users on Canton can now access the cbtc token with onchain reserve verification and real-time pricing, enhancing risk management and collateral efficiency.
CBTC becomes the first wrapped Bitcoin asset on Canton
CBTC, issued by BitSafe, is the first and only wrapped Bitcoin asset on the Canton Network, designed for regulated financial activity that requires privacy and control for institutional participants. Moreover, CBTC is structured to support use cases such as lending, borrowing, swaps, and other onchain applications across the broader Canton ecosystem.
For Bitcoin-backed instruments to function in these institutional environments, counterparties must be able to verify both backing and pricing on a continuous basis. That said, CBTC addresses this requirement by combining onchain reserve verification with high-quality BTC price data, allowing applications on Canton to treat CBTC as verifiable collateral rather than a purely trust-based wrapper.
Onchain CBTC reserve monitoring via Chainlink Proof of Reserve
BitSafe now uses Chainlink Proof of Reserve to demonstrate onchain that CBTC is backed 1:1 by BTC. This integration enables applications, counterparties, and developers to independently confirm backing data without relying on manual disclosures, delayed reports, or offchain attestations that may introduce operational risk.
This continuous verification mechanism is critical for financial workflows including collateralized lending, margining, and structured products. However, it is especially important where asset backing must be confirmed in near real time to manage risk, maintain accurate margin levels, and ensure correct settlement behavior throughout the life cycle of a transaction.
Low-latency BTC price data through Chainlink Data Streams
In parallel with reserve verification, BitSafe has integrated Chainlink Data Streams to deliver low-latency BTC pricing for CBTC-based applications running on Canton. This standardized oracle infrastructure removes the need for custom data feeds, helping developers accelerate time to market for new financial products.
Accurate, real-time BTC price data is required for mark-to-market calculations, liquidation engines, and automated settlement logic across DeFi and institutional workflows. Moreover, by leveraging Chainlink Data Streams, BitSafe allows builders on Canton to access a consistent and high-quality source of BTC pricing whenever they integrate CBTC into their protocols.
BitSafe strengthens its role in the Canton ecosystem
With both Proof of Reserve and Data Streams live, CBTC can now be integrated into a wide range of Canton-native applications without bespoke oracle implementations. Developers can structure financial products that use CBTC as collateral while relying on standardized data infrastructure for both pricing and reserve verification.
These capabilities support use cases such as lending and borrowing markets, swap pools, and other application-level integrations that demand reliable BTC-backed collateral in an institutional context. That said, the same standardized approach also benefits emerging DeFi protocols on Canton that seek enterprise-grade data guarantees.
DeFi applications on Canton, including Thetanuts Finance, an on-chain options protocol, and Kairo, a decentralized exchange built on Canton, can integrate CBTC using shared pricing and reserve verification standards. As they develop new products and markets on the network, these projects gain access to a Bitcoin-backed asset with transparent onchain backing and low-latency price data.
Standardizing Bitcoin-backed assets on Canton
BitSafe has emerged as a leading participant in the Canton ecosystem, collaborating closely with teams that are building financial applications on the network. The launch of the cbtc token using Chainlink infrastructure signals a broader move toward shared standards for how Bitcoin-backed assets are issued, monitored, and integrated on Canton.
As more applications adopt CBTC and other Canton-native assets, shared data and verification primitives can help reduce integration complexity while improving transparency. Moreover, this approach strengthens risk management practices across the ecosystem by giving institutions consistent tools to monitor collateral backing and pricing.
About BitSafe
BitSafe builds secure infrastructure and solutions that enable institutions to put their Bitcoin to work within regulated environments. As an institutional Bitcoin infrastructure protocol, BitSafe bridges the gap between traditional finance and Bitcoin DeFi, offering capabilities that span privacy-enabled transactions, regulatory compliance frameworks, and curated yield strategies.
By safeguarding assets with audited technologies and comprehensive risk disclosures, BitSafe aims to ensure informed decision-making for institutional users. Furthermore, it makes Bitcoin infrastructure accessible through familiar, institutional-grade approaches that align with existing operational, legal, and compliance standards.
About Chainlink
Chainlink is the industry-standard oracle platform bringing capital markets onchain and powering the majority of decentralized finance (DeFi) applications. The Chainlink technology stack delivers essential data, interoperability, compliance, and privacy components needed to support advanced blockchain use cases for tokenized assets, lending, payments, stablecoins, and other institutional products.
Since inventing decentralized oracle networks, Chainlink has enabled tens of trillions in transaction value and now secures the vast majority of DeFi. Many of the worlds largest financial services institutions, including Swift, Euroclear, Mastercard, Fidelity International, UBS, S&P Dow Jones Indices, FTSE Russell, WisdomTree, ANZ, and leading DeFi protocols such as Aave, Lido, and GMX, have adopted Chainlinks standards and infrastructure.
Chainlink uses a novel fee model in which offchain and onchain revenue from enterprise adoption is converted to LINK tokens and stored in a strategic Chainlink Reserve. This structure aims to align incentives across the network as demand for secure oracle services grows over time.
In summary, the combination of BitSafes institutional Bitcoin infrastructure, CBTCs onchain reserve verification, and Chainlinks standardized data services positions Canton as a compelling venue for regulated Bitcoin-backed financial products.
