BTCB, Bitcoin on Binance Smart Chain, 1:1 wrapped Bitcoin on Binance Smart Chain.
BTCB is a BEP2/BEP20 asset wrapped (pegged) on Binance Chain/Binance Smart Chain with a 1:1 peg to BTC locked on the Bitcoin blockchain. BTCB is operated on a centralized and trust-based model. The 1:1 peg means that the amount of wrapped BTCB is equal to the amount of BTC locked in a public address. The centralized and trust-based model implies that the issuer of the wrapped BTCB tokens is Binance. Our job is to ensure the impenetrable security of your funds and transparency.
The transparency is ensured through the Proof of Assets webpage, where you can verify the current supply for all locked and issued assets on the public blockchain. The amount of locked BTC may not be exactly the same as the wrapped BTC because this audit data is not updating in real-time, but instead, it’s processed weekly.
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