We are excited to announce that CBTC, the first wrapped Bitcoin asset on the Canton Network, has integrated Chainlink Proof of Reserve and Chainlink Data Streams to power use cases such as lending, borrowing, swaps, and other onchain applications across the Canton ecosystem.

BitSafe issues CBTC as the only wrapped Bitcoin asset on the Canton Network, designed to support regulated financial activity with privacy and control for institutional participants.

For Bitcoin-backed assets to function in these environments, counterparties must be able to verify backing and pricing continuously. CBTC addresses this requirement by pairing onchain reserve verification with high-quality BTC price data, enabling applications on Canton to rely on CBTC as verifiable collateral rather than a trust-based wrapper.

BitSafe now uses Chainlink Proof of Reserve to provide onchain verification that CBTC is backed 1:1 by BTC. Proof of Reserve enables applications, counterparties, and developers to independently verify backing data without relying on manual disclosures or offchain attestations.

This continuous verification is critical for financial use cases such as collateralized lending, margining, and structured products, where asset backing must be confirmed in real time to manage risk and ensure correct settlement behavior.

In addition to reserve verification, BitSafe integrates Chainlink Data Streams to provide low-latency BTC pricing for CBTC-based applications on Canton.

Accurate, real-time pricing is required for mark-to-market calculations, liquidation logic, and automated settlement across DeFi and institutional workflows. By using Chainlink Data Streams, BitSafe enables developers building on Canton to access a consistent source of BTC pricing data when integrating CBTC into their applications.

With Proof of Reserve and Data Streams live, CBTC can be integrated into a range of Canton-native applications without custom oracle implementations. Developers can build financial products using CBTC as collateral while relying on standardized data infrastructure for pricing and reserve verification.

These capabilities support use cases including lending and borrowing, swap pools, and other application-level integrations that require reliable BTC-backed collateral in an institutional context.

DeFi applications on Canton, such as Thetanuts Finance, an on-chain options protocol, and Kairo, a decentralized exchange built on Canton, can integrate CBTC using standardized pricing and reserve verification as they build new products and markets on the network.

BitSafe has been a leader in the Canton ecosystem and works closely with teams building financial applications on the network. The launch of CBTC with Chainlink infrastructure reflects a broader effort to establish shared standards for how Bitcoin-backed assets operate on Canton.

As more applications adopt CBTC and other Canton-native assets, using common data and verification primitives helps reduce integration complexity while improving transparency and risk management across the ecosystem.

Ready to Put Your Bitcoin to Work?

BitSafe builds secure infrastructure and solutions that enable institutions to put their Bitcoin to work. As the institutional Bitcoin infrastructure protocol, BitSafe bridges the gap between traditional finance and Bitcoin DeFi, providing comprehensive capabilities spanning privacy-enabled transactions, regulatory compliance frameworks, and curated yield strategies. By safeguarding assets with audited technologies and comprehensive risk disclosures, BitSafe ensures informed decision-making while making Bitcoin infrastructure accessible through familiar, institutional-grade approaches.

Website | Twitter (X) | LinkedIn | Telegram

Chainlink is the industry-standard oracle platform bringing the capital markets onchain and powering the majority of decentralized finance (DeFi). The Chainlink stack provides the essential data, interoperability, compliance, and privacy standards needed to power advanced blockchain use cases for institutional tokenized assets, lending, payments, stablecoins, and more. 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 world’s largest financial services institutions have also adopted Chainlink’s standards and infrastructure, including Swift, Euroclear, Mastercard, Fidelity International, UBS, S&P Dow Jones Indices, FTSE Russell, WisdomTree, ANZ, and top protocols such as Aave, Lido, GMX, and many others. Chainlink leverages a novel fee model where offchain and onchain revenue from enterprise adoption is converted to LINK tokens and stored in a strategic Chainlink Reserve. Learn more at chain.link.