CBTC, the first wrapped Bitcoin asset on the Canton Network, has recently integrated Chainlink’s Proof of Reserve and Data Streams to enhance its applications across the $8 trillion Canton ecosystem. This integration allows CBTC to offer on-chain verification that it is backed 1:1 by Bitcoin, addressing the need for real-time asset backing verification crucial for financial activities such as lending and borrowing. The incorporation of Chainlink Data Streams further enables low-latency BTC pricing, which is vital for accurate mark-to-market calculations and automatic settlements. With these advancements, CBTC is positioned to streamline financial applications on Canton, ensuring reliability and transparency in transactions.
BitSafe integrates Chainlink standards to enable CBTC applications
