Demex Daily #246: 21.co Boosts 21BTC Transparency with Chainlink Amid Coinbase cbBTC Scrutiny

What’s Interesting Today:

21.co, the parent of 21Shares, integrated Chainlink's Proof of Reserve on Ethereum and Solana to enhance the transparency of its wrapped Bitcoin product, 21BTC. This integration allows for real-time reserve verification, ensuring 21BTC is fully backed by Bitcoin in cold storage, bolstering user confidence. In contrast, Coinbase's wrapped Bitcoin (cbBTC) faces criticism for lacking transparency, with concerns over its proof of reserves and terms of service. Despite this, cbBTC has gained significant traction, becoming the third-largest wrapped Bitcoin token with a $170 billion market cap.

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MyTonWallet, a TON-based self-custodial wallet, announced support for Tron blockchain assets, including TRX, USDT, and TRC-20 tokens. This marks the first integration of Tron-based assets within the TON ecosystem, aimed at enhancing blockchain interoperability. MyTonWallet's founder, Alexander Zinchuk, highlighted the importance of managing assets across multiple chains and stated that this move will drive adoption of the TON network. The wallet plans to further expand cross-chain capabilities by adding support for other blockchains, including BNB Smart Chain, Solana, and Ethereum.

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