FAQ for Trading Firms

Common questions from trading firms evaluating or onboarding to CBTC on Canton. This FAQ is compiled from sales conversations, partner calls, and Slack discussions.

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Fees and Costs

What are the fees for minting and burning CBTC?

Minting and burning fees are currently waived. This is subject to change in the future. Check with the BitSafe BD team for the latest fee schedule.

Are there trading fees on the venues?

Each venue sets its own fee structure:

• Elk / Trngle: Negotiable spreads based on volume

• Temple Digital: No platform fees currently

• Tradefast: Standard AMM swap fees

• Bron: Check venue documentation

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Anti-Gaming and Compliance

What counts as "legitimate" trading activity?

Strategies must involve real economic risk. This includes market making, arbitrage, inventory rebalancing, directional trading, lending, and liquidity provision. Each of these generates genuine market activity and is eligible for rewards.

What activity is flagged or prohibited?

Canton's tokenomics accountability process flags and shuts down scripted back-and-forth transfers (A to B to A) designed solely to farm rewards. If your strategy does not involve swapping into another asset, managing inventory risk, or providing liquidity, it will likely be flagged.

Is CBTC available to US persons?

No. CBTC is not available to US persons. Your firm must confirm non-US status as part of the onboarding process.

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Wallets and Infrastructure

What wallet do I need?

You need a Canton-compatible wallet that supports CBTC. Recommended options for institutional traders include Zoro (self-custody with SDK/API), Console (browser-based), Loop (web-based, open source SDK), and Cantor8 (enterprise custody with multi-sig). See the Canton DeFi Ecosystem guide for full details.

Do I need to run a Canton validator node?

Not necessarily. You can acquire CBTC via OTC purchase through Elk Capital or Trngle without running a node. However, if you want to mint CBTC directly from BTC, you will need a validator node. Multi-tenant validator options are available for firms that want node access without the full infrastructure build.

Can I use multiple wallets?

Yes. You can use multiple Canton-compatible wallets for trading CBTC across different venues.

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Venues and Trading

Which venue should I choose?

It depends on your trading style:

• Need institutional-size execution with custom pairs? Elk / Trngle RFQ

• Want an order book with the best reward economics? Temple Digital CLOB (40% bonus)

• Want fast deployment with familiar DeFi infra? Tradefast AMM

• Want the simplest starting point? Bron

• Prefer hands-off yield? Temple Digital LP or SciFeCap SMA See Selecting a Trading Venue for the full comparison and decision guide.

What trading pairs are available?

The primary pairs are:

• CBTC / USDXLR - Canton-native yield-bearing stablecoin (primary pair, earns rewards from both assets)

• CBTC / USDCx - Cross-chain stablecoin

• CBTC / CC - Canton Coin Availability varies by venue. Check the venue comparison table in Selecting a Trading Venue.

Who are the current market participants?

Active institutional counterparties on Canton include Elk Capital Markets, SciFeCap, HashKey Cloud, Desyn, IMC, QCP, and others. The trading firm pipeline is growing rapidly.

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Onboarding

How long does onboarding take?

Typically 1 to 2 weeks from initial signup to first trade, depending on your firm's readiness, compliance review timeline, and chosen venue's integration requirements.

What is the onboarding process?

1. Complete the CBTC signup form

2. Sign MSA and complete KYC/AML

3. Set up a Canton wallet

4. Acquire CBTC (OTC or direct mint)

5. Connect to your chosen venue

6. Start trading See the Onboarding Checklist for the full step-by-step guide.

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Security

How is CBTC secured?

CBTC uses FROST threshold signatures over Bitcoin UTXOs for decentralized custody. There is no single custodian. The Attestor Network collectively approves mints and burns using a threshold signing scheme. CBTC is fully 1:1 backed by BTC at all times.

Has CBTC been audited?

Yes. CBTC has been audited by Quantstamp. The full audit report is available at certificate.quantstamp.com.

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Getting Started

📝 Ready to start?

• Complete the CBTC Signup Form

• Email: [email protected]

• Read the Onboarding Checklist for the full step-by-step process

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ℹ️ Disclosures Target yields are not guaranteed. Canton Coin rewards depend on network activity, token economics, and market conditions. Strategies carry risk; conduct independent due diligence. CBTC is not available to US persons. This is not investment advice.