Tezos Foundation cooperates with the Swiss Bitcoin Association to issue tzBTC based on Tezos anchored Bitcoin

The Tezos Foundation announced that it will cooperate with several companies such as the Bitcoin Association Switzerland to issue and anchor the Bitcoin token tzBTC based on the Tezos blockchain, and the token will also become Tezos-based DeFi open finance The first tool in the field. According to the official website of tzBTC, the Swiss Bitcoin Association will become a third-party supervisor and middleman to enhance the integrity of the tzBTC system. Companies that host Bitcoin and hold tzBTC include LEGR AG, inacta AG, Swiss Crypto Tokens AG, Taurus Group SA. At the same time, the decentralized financial asset management platform StakerDAO based on Tezos plans to start using tzBTC tokens this quarter. Lucas Betschart, Chairman of the Swiss Bitcoin Association, said, “tzBTC brings Bitcoin’s brand and liquidity to the Tezos blockchain and gains the potential of Tezos smart contracts to bring other functions.”