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21.co Integrates Chainlink Proof-of-Reserve for Enhanced Transparency of 21BTC
Enhanced Transparency for 21BTC Reserves
21.co, the company behind 21Shares, has integrated Chainlink Proof-of-Reserve to provide greater transparency for its wrapped Bitcoin, 21BTC. This integration, operating on Solana and Ethereum mainnets, aims to boost visibility into the reserves backing 21BTC.
Increased Decentralization and Security
Launched on both Solana and Ethereum, 21BTC is fully backed by BTC reserves stored securely in cold storage and institutional custody. Through Chainlink’s service, these reserves will be made publicly available on-chain for verification by users in real-time, enhancing security during the minting process and instilling confidence in the token’s legitimacy.
Empowering User Verification with Onyx
Using Chainlink’s Proof-of-Reserve via their digital asset management platform, Onyx, 21.co enables users to independently verify the reserves backing 21BTC. This collaboration reinforces the decentralization of 21BTC on Ethereum and Solana and emphasizes the industry’s commitment to a decentralized future across various sectors, from finance to gaming.
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