The Binance BTCB page of Bitcoin Layers is under development.

We have not yet implemented our proof-of-reserves and therefore cannot assure you that wrappers are fully backed, 1:1, with BTC. Please use caution interacting with these wrapped BTC assets. Additionally, there may be incomplete or outdated research.

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Binance BTCB

Overview

Status

Mainnet

Type

Reserve

BTC Supply

₿0

Under Review

Assessment

Asset Custody

Users trust Binance with managing the BTC backing BTCB

When interacting with BTCB, users trust that Binance, a centralized custodian, will safely custody the BTC backing BTCB. When interacting with a centralized custodian, users trust that the custodian will not steal the funds backing their BTCB tokens. They also trust that Binance will effectively manage the BTC and not lose access to it. If the BTC backing BTCB, BTCB tokens could become effectively worthless.

Users trust Binance's reputation as an institutional provider when interacting with BTCB.

Further sections to be reviewed

Aspects related to BTC custody, key management, transaction signing, and redemptions have not been reviewed. We are currently reviewing these sections.