BitSafe integrates Chainlink services to support CBTC, a wrapped Bitcoin token on the Canton Network for institutions.
A new digital asset project is gaining attention in the blockchain world. BitSafe Finance has partnered with Chainlink Labs to support a Bitcoin-based token. The project powers a token called CBTC which is on the Canton Network.
CBTC is intended to be a wrapped form of Bitcoin. A wrapped token is a token that is a representation of another asset on a different blockchain. In this case, CBTC is a representation of the real Bitcoin but using the Canton Network. Therefore, institutions can leverage applications of Bitcoin in new financial applications.
🚨LATEST: BITSAFE ADOPTS CHAINLINK TO POWER $CBTC ON CANTON NETWORK@BitSafe_Finance has integrated @Chainlink’s Proof of Reserve and Data Streams to power $CBTC, the first wrapped Bitcoin asset on the @CantonNetwork.$CBTC now uses Chainlink Proof of Reserve to provide… pic.twitter.com/uhSxWr8Hnh
— BSCN (@BSCNews) February 27, 2026
The integration is focused on the security and transparency. Chainlink technology is used to make sure that every CBTC token is backed by actual Bitcoin. As a result, users can rely on the fact that the digital tokens represent actual Bitcoin reserves.
This project also enhances price data of financial services. Developers can now get access to real-time prices. Therefore, lending, borrowing and trading systems can function with greater smoothness.
Chainlink Technology Helps Verify Bitcoin Reserves
The new system relies upon various services from the Chainlink service provider for greater reliability. One important tool is known as Proof of Reserve. This system is used to verify that CBTC tokens are backed up by Bitcoin in a 1:1 ratio.
Proof of Reserve works by checking Bitcoin reserves at all times. The data is written directly on the blockchain for verification purposes. Therefore, investors and institutions can view proof demonstrating that tokens are fully-backed.
Another tool that is being used in the project is Chainlink Data Streams. This system offers real-time, quick pricing of Bitcoin and other assets. Real-time prices are relevant for trading platforms and lending services.
For instance, financial platforms require accurate prices in case of loans and margin trading. Without the right data, traders may run massive risks. Data Streams helps in mitigating these risks by providing frequent price updates.
The project also makes use of SmartData tools to track the asset values. These tools give important information such as Net Asset Value and assets under management. Financial institutions often use these numbers to assess the risk of a portfolio.
Finally, Chainlink is soon to have its Cross-Chain Interoperability Protocol on the network. This technology enables the safe movement of assets between various blockchains. Therefore, CBTC could eventually move in several blockchain systems.
CBTC Aids Institutions in Using Bitcoin in New Financial Markets
CBTC was developed primarily for institutional investors and financial companies. These organizations often wish to use Bitcoin in regulated financial markets. However, traditional systems sometimes constrain the use of Bitcoin.
The Canton Network offers special features to assist institutions in their secure operation. One important feature is customizable privacy. This means that transaction details are only visible to the approved participants.
This privacy system is used to protect sensitive financial information. At the same time, regulators can nevertheless monitor activity where necessary. Therefore, organizations can be able to leverage blockchain technology according to financial regulations.
CBTC can also be used for Bitcoin to serve as collateral in financial trading. Collateral is an asset that is used to secure loans or financial contracts. Institutions can utilize the CBTC to assist them with margin requirements when trading in derivatives.
For instance, collateral is often required by traders for initial margin and variation margin payments. With CBTC, Bitcoin can help to support these financial obligations.
The token also creates an opportunity to earn yield. Investors can obtain rewards in return for lending liquidity or other financial products. Some of the applications on the Canton ecosystem also provide incentives for participants.
Partnership Expands the Canton Blockchain Ecosystem
The collaboration also builds up the Canton Network ecosystem. Chainlink Labs is now a Super Validator in the network. Validators help to verify transactions and keep the blockchain safe.
This role enables Chainlink to be involved in network governance. Governance aids in the decision-making process of how the blockchain operates and improves as time goes on. Therefore, the partnership increases cooperation between both companies.
CBTC became live on the mainnet in August 2025. Since then, the project has gone on to expand its capabilities. In February 2026, the token started trading privately on the Temple Exchange.
The listing permitted the institutions to begin using the asset in real financial markets. As adoption continues to increase, more financial companies may venture into Bitcoin-backed tokens.
Overall, the partnership demonstrates the fusion of traditional finance and blockchain technology. Institutions are increasingly looking for a secure way to use digital assets in regulated markets.