tzBTC

tzBTC is a token on the Tezos blockchain backed 1-1 by Bitcoin (BTC).

tzBTC brings the liquidity and stability of Bitcoin to the Tezos network. It gives people more choice how they can use Bitcoin and by that increase the utility and strengthen the position of Bitcoin as the world's leading digital currency.

 
TZBTC Logo
 

Setup

The multi-signature concept of tzBTC enables a strongly trust-reduced setup with no central issuer while being fully transparent. In this setup the Bitcoin Association Switzerland acts as a third-party overseer and mediator, adding to the integrity of the tzBTC system. In a nutshell, we make sure there will never be more tzBTC issued on the Tezos blockchain than Bitcoins hold in the keyholders multi-signature address. The memorandum describing why thanks to this setup tzBTC is not a security token and the applicability of Swiss financial market regulations can be found here.

Keyholders

The keyholders consist of the following Swiss companies:

Contracts

Following you can find all contracts (or templates of them) between the parties involved:

On-Chain

More information on tzBTC can be found on tzbtc.io.

Issuance Check Statements

Each quarter we will issue a statement on the number of tzBTC tokens issued and the BTC hold in multi-signature by the keyholders. The number has to be exactly the same.

Report 1, 2020-04-08, 10:00, There exist 1 tzBTC backed by 1 BTC. No divergence.
Report 2, 2020-07-01, 10:00, There exist 357.94 tzBTC backed by 357.94 BTC. No divergence.
Report 3, 2020-10-04, 09:31, There exist 357.94 tzBTC backed by 357.94 BTC. No divergence.
Report 4, 2021-01-01, 10:00, There exist 357.94 tzBTC backed by 357.94 BTC. No divergence.
Report 5 2022-05-20, 13:00, There exist 1'076.16 tzBTC backed by 1'076.16 BTC. No divergence. 
Report 6 2023-09-19, 18:03, There exist 1'076.16 tzBTC backed by 1'076.16 BTC. No divergence.