In TON Wallet, Bitcoin is represented as cbBTC (Coinbase Wrapped BTC) — a token backed 1:1 by real BTC.
Wrapped tokens are a common mechanism in crypto, where the underlying asset is locked in one network, and a tokenized version is issued on another network, reflecting its value.
🖥 Why use wrapped BTC?
Bitcoin is a separate network that is not directly compatible with Ethereum or TON. Wrapped assets solve this by creating a tokenized version of BTC that can be used across other blockchains.
cbBTC is a version of BTC issued by Coinbase. It is backed by real Bitcoin held in custody by Coinbase — a publicly listed cryptocurrency company in the United States.
cbBTC represents a tokenized exposure to BTC held in custody by Coinbase. This is ensured by several mechanisms:
● 1:1 backing — each cbBTC is backed by one real BTC
● Proof-of-Reserves — anyone can verify the reserves on-chain
This model allows users to verify reserve information on-chain.
🪙 How does it work in TON Wallet?
Bitcoin becomes available in the TON ecosystem through TAC — an infrastructure layer that enables compatibility between TON and crypto assets from the EVM ecosystem. When cbBTC enters TAC, it is locked, and its equivalent is issued on TON. As with Coinbase, this process is transparent and can be verified on-chain here.
All technical processes happen in the background — allowing you to use the Bitcoin inside your wallet just like any other asset.
In TON Wallet, you can store, swap, and send Bitcoin to your Telegram contacts, as well as earn additional yield on the most well-known cryptocurrency — all without leaving Telegram 💎
TAC is a third-party protocol, not operated by TON Wallet. DeFi carries risks — do your research before using. This communication is not intended for persons in the United Kingdom.
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