Cross-Chain Tokens, CKB Eco Fund, and Meson Finance Launch ccBTC with 1:1 Bitcoin Reserves on CKB Ma

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.

More Information : https://www.techdogs.com/tech-news/pr-newswire/groundbreaking-partnership-cross-chain-tokens-ckb-eco-fund-and-meson-finance-launch-ccbtc-with-11-bitcoin-reserves-on-ckb-main-network