CBTC

CBTC is a 1:1 wrapped Bitcoin token by BitSafe, designed for secure and decentralized bridging to the Canton Network.

Each CBTC is CIP-56 compliant, and is fully backed by Bitcoin held in a secure, decentralized custody system powered by FROST (Flexible Round-Optimized Schnorr Threshold Signatures).

The wrapped token is issued by a decentralized threshold of parties on Canton, and is held non-custodially by the user.

This eliminates the risks associated with centralized custodians and traditional bridge architectures

How the Bitcoin Bridge works

The reserve capital for CBTC is held in a network of secure Bitcoin wallets, co-controlled by a decentralized network of Attestor nodes. This is not a traditional multisig wallet, but rather a sophisticated threshold signature operation. Here’s how it works:

• Decentralized Custody: Instead of a single entity holding the private keys, the authority to spend the Bitcoin is distributed among a network of trusted, institutional-grade Attestor nodes. Each node holds a share of the private key, but no single node ever has access to the full key.

• Threshold Signatures with FROST: To authorize a withdrawal, a threshold of Attestor nodes must collaboratively sign the transaction using the FROST protocol. This process generates a single, standard Schnorr signature that is indistinguishable from a regular Bitcoin transaction on-chain, enhancing privacy and reducing transaction fees.

• Taproot Native: Using Bitcoin's Taproot upgrade allows any Bitcoin wallet that can send to a Taproot address (P2TR) to be used to deposit BTC and mint CBTC

This model ensures that no single party—not even BitSafe—can unilaterally move the funds. The security of the system is based on the honest majority assumption of the Attestor network, which is composed of highly reputable and financially incentivized participants.

Dual Network Security

BitSafe Attestors don't just manage Bitcoin - they also validate transactions on Canton. This means both your Bitcoin deposits and CBTC token creation are protected by the same trusted network, creating seamless security across both blockchains.

Why Canton?

The CBTC–Canton integration advances institutional Bitcoin adoption by enabling scalable, privacy-preserving margin flows for structured products and derivatives. Canton has the following features:

• Configurable on-chain privacy settings: Flows are visible only to the counterparties who need to see them

• Built for lending, trading, settlements and yield opportunities

Help & feedback—reach us via GSF Slack (#gsf-outreach) or email [email protected] with questions