Binance Bitcoin bridge
Overview
Binance Bitcoin (BTCB) is a tokenized representation of Bitcoin on the BNB Chain (formerly Binance Chain and BSC), issued by Binance. It functions as a bridge asset, allowing Bitcoin to be used within the BNB ecosystem for DeFi and other applications. BTCB is backed by Bitcoin held in a centralized reserve, with a mechanism for minting and burning upon deposit and withdrawal.
Within the DeFi Intel graph, Binance Bitcoin connects to 2 tracked entities, most strongly to Bitcoin, Bitcoin.
Relations
Top connections in the DeFi Intel knowledge graph (confidence-weighted, 2 of 2 total).
| Relation | Connected entity | Confidence |
|---|---|---|
bridges | Bitcoin | 95% |
deployed_on | Bitcoin | 85% |
Frequently asked questions
What is Binance Bitcoin (BTCB)?
Binance Bitcoin (BTCB) is a tokenized representation of Bitcoin on the BNB Chain, issued by Binance. It functions as a bridge asset, allowing Bitcoin to be used within the BNB ecosystem for DeFi and other applications.
How is BTCB backed?
BTCB is backed by Bitcoin held in a centralized reserve, with a mechanism for minting and burning upon deposit and withdrawal.
What chain does Binance Bitcoin run on?
Binance Bitcoin runs on the BNB Chain (formerly Binance Chain and BSC).