tzBTC allows you to activate your Bitcoin on other Blockchains: decentralised, transparent and compliant. It’s automation makes tzBTC the most cost-effective product available. It’s regulated operators ensure security, trust and transparency. Not one entity owns tzBTC!
This website is managed by Papers AG, Zug and tzBTC is supported by the Tezos Foundation, one of the largest BTC holders.
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 tzBTC. Keyholders and Gatekeepers typically use a standard contract.
Gatekeepers accept BTC after conducting KYC & AML checks (identity verification) and allocate tzBTC in return. There is no limit to the number of Gatekeepers allowed.
tzBTC can be accessed via Gatekeepers. Individuals benefit from direct onboarding on tzbtc.io/gettzbtc/. Certain juristictions are not supported due to regulatory uncertainties.
Institutions can either onboard via a Gatekeeper or become a Gatekeeper themselves. Each keyholder can be contacted to learn more about the process to onboard new Gatekeepers.
The tzBTC bridge is built on technology from Acurast, the Decentralized Serverless Cloud platform.
Bridging from BTC to tzBTC, a user sends BTC to a Bitcoin RedeemScript governed by the keyholders and their Acurast processors. This transaction is observed and verified by these Acurast processors on multiple bitcoin nodes. Once confirmed, these Acurast processors act as signers which are allowed to sign a minting transaction on the tzBTC contract on Tezos.
A similar process is in place when sending tzBTC to BTC: The Acurast processors verify the burn on the tzBTC side and then redeem the BTC on the Bitcoin sign.
Learn more about the technology stack from Acurast: https://docs.acurast.com.