How to Buy 21.co Wrapped BTC (21BTC) on LBank

21.co Wrapped BTC, often referred to by its ticker 21BTC, is a digital asset designed to bring the value and utility of Bitcoin to other blockchain networks, such as Ethereum and Solana. It is a product of 21.co, the parent company of 21Shares, which is a major issuer of cryptocurrency exchange traded products. The primary goal of 21BTC is to allow users to use their Bitcoin holdings within the decentralized finance ecosystem, enabling activities like lending, borrowing, and trading on smart contract platforms without having to sell their original Bitcoin. A key feature of 21BTC is its institutional-grade backing. Every token is supported one-to-one by physical Bitcoin held in secure, independent cold storage. This means that for every 21BTC token in circulation on a network like Ethereum, an equivalent amount of native Bitcoin is locked away by regulated third-party custodians. This structure is intended to provide transparency and security, differentiating it from other wrapped assets that may use less stringent custody methods. Technologically, the project utilizes Onyx, a proprietary operating system developed by 21.co. Onyx streamlines the minting and burning processes, which are the methods used to create or redeem the tokens. When a user wants to create 21BTC, they deposit native Bitcoin, and the corresponding wrapped tokens are issued. Conversely, when they want their original Bitcoin back, the wrapped tokens are burned, and the native assets are released. The project emphasizes security by avoiding traditional lock-and-mint bridge models, which have historically been vulnerable to exploits. Instead, it relies on institutional asset management practices and partnerships with major industry players. For instance, the project collaborates with Flow Traders, a global market maker, and has established strategic partnerships with platforms like Crypto.com to ensure deep liquidity and reliable access for both retail and institutional users. By offering a bridge between the Bitcoin network and decentralized applications, 21BTC aims to solve the problem of idle capital on the Bitcoin blockchain. It provides a way for holders to participate in the growing Web3 economy while benefiting from the security protocols of a regulated asset manager. The asset is available on multiple chains, promoting cross-chain compatibility and helping to reduce liquidity fragmentation across the broader crypto market. Learn more