Build Where No One’s Built Before
Smart Contract to Your BTC’s Content
As an asset on Blockchains, xcBTC enables applications to use BTC with the full expressivity of smart contracts. xcBTC is implemented on Etherlink and Ethereum, it's predecessor tzBTC is implemented on Tezos.
Never Get Stuck on Hold Again
The xcBTC system divides governance among a group of Keyholders. Keyholders can access via multi-signature wallets the underlying Bitcoin and oversee supply management by minting and burning the corresponding xcBTC. Gatekeepers interact directly with End-Users and ensure compliance with KYC & AML documentation.
Guardians of Growth
Keyholders
A distributed group of Keyholders can access via multi-signature wallets the underlying Bitcoin and manage the supply with minting and burning of the corresponding xcBTC. Keyholders and Gatekeepers typically use a standard contract.
Gatekeepers
Gatekeepers accept BTC after conducting KYC & AML checks (identity verification) and allocate xcBTC in return. There is no limit to the number of Gatekeepers allowed.
How We Work
xcBTC is composed of three different processes.
Initiating involves potential end-users, whereas Minting and Burning are done by Keyholders and Gatekeepers.
Initiating
Initiating xcBTC is simple: a user requests xcBTC from a Gatekeeper who then performs the required KYC & AML checks to verify the user’s identity. The user then sends BTC to the Gatekeeper and in return receives the corresponding xcBTC tokens (after minting by Keyholders).
Minting
Minting is the process of creating new xcBTC supply: after new xcBTC is requested by a Gatekeeper, xcBTC is minted by Keyholders using a multi-signature setup and sent to a Gatekeeper who then allocates it to a user.
Burning
Burning is the process of removing xcBTC: a Gatekeeper can request to remove xcBTC from circulation (burn) by sending them to a predefined address managed by a multi-signature wallet controlled by Keyholders. Once burned, the corresponding BTC are transferred to a Gatekeeper and then allocated back to a user.
Where We Work
xcBTC is supported by wallets, block explorers, exchanges, brokers and dapps.
BTC in custody
The BTC addresses here control the BTC corresponding to the tzBTC in circulation.
BTC
BTC
BTC
BTC
BTC
BTC
BTC