HONG KONG, July 3, 2024 /PRNewswire/ -- Cross-Chain Tokens
(ccTokens) has partnered with the Nervos CKB Eco Fund to launch
ccBTC on the CKB main network, enhancing Bitcoin liquidity within
the CKB ecosystem. Backed by a 1:1 Bitcoin reserve, ccBTC is
managed by Cactus Custody, a subsidiary of Matrixport. Cactus
Custody is a licensed trust company in Hong Kong that adheres to strict anti-money
laundering and regulatory standards while providing digital custody
solutions.
Meson Finance, the official cross-chain bridge for the CKB Eco
Fund, will enable seamless cross-chain circulation of ccBTC across
major blockchains and BTC Layer2 networks. Meson Finance, a leading
provider of cross-chain services, supports all major public chains
and Layer2 networks and offers users access to assets like BTC,
ETH, and stablecoins.
ccBTC leverages the advanced capabilities of Nervos CKB and
RGB++ protocols to ensure secure BTC transfers within the Bitcoin
ecosystem. This integration will empower decentralised applications
(DApps) to utilise Bitcoin assets, including decentralised
exchanges (DEX), lending platforms, algorithmic stablecoins,
derivatives markets, the Lightning Network, the Nostr social
protocol, and other large-scale use cases.
ccBTC is the first compliant and managed token issued on a UTXO
platform outside the BTC main network. Users can publicly verify
reserved addresses, balances, and transaction records in real time
via the ccTokens website. To ensure transparency and reliability,
the project employs a multi-party confirmation mechanism for
minting, burning, and on-chain verification. The ccTokens
governance model emphasises checks and balances through a
multi-agency framework, role and rights segregation, and
decentralisation to mitigate potential misconduct. Additionally, a
blacklist mechanism supports ongoing governance and compliance.
This strategic collaboration aims to strengthen the CKB and
RGB++ protocols and introduce securely managed Wrapped BTC assets
to the broader Bitcoin ecosystem, revitalising dormant BTC
assets.
About Nervos CKB
Nervos CKB is a pioneering BTC Layer 2 solution using the
Cell model and PoW consensus mechanism to address blockchain
scalability challenges. Its modular architecture separates
transaction execution, consensus, and data availability.
About Meson Finance
Meson Finance is a decentralised cross-chain bridge
leveraging Atomic Swap technology for seamless transfers of BTC,
ETH, and stablecoins across over 50 public chains and Layer 2
networks. It offers efficient and cost-effective cross-chain
services.
About Cactus Custody
Cactus Custody, a subsidiary of Matrixport, is a Hong Kong-based trust company dedicated to
anti-money laundering and regulatory compliance. It provides
efficient digital custody solutions. It leads in
institutional-grade digital asset custody, supporting over 300
high-profile clients, including miners, exchanges, and funds.
About Cross-Chain Tokens (ccTokens)
Cross-Chain Tokens (ccTokens) are pegged tokens, each
backed 1:1 by blockchain assets like BTC. These tokens enable
seamless integration of various cryptocurrencies into the
decentralised finance (DeFi) ecosystem. All ccTokens are fully
supported and protected by qualified third-party custodians or
validators.
Disclaimer
The content of this webpage is not
investment advice and does not constitute an offer, solicitation to
offer, or recommendation of any investment product. It is for
general purposes only and does not consider your needs, investment
objectives, or specific financial circumstances. Investment
involves risk.
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