tBTC, which enables Bitcoin holders to act on the Ethereum blockchain, will add an integration with the Celo Platform, an open blockchain platform designed to make financial tools accessible to people with a mobile phone.
tBTC allows people to exchange BTC for TBTC, an ERC-20 token, at a rate of 1:1. Each TBTC token is fully backed and matched by at least 1 BTC held in reserve. tBTC is trustless, using a random beacon to select “signers” who have responsibility for the deposited BTC. TBTC can be converted to BTC, and vice-versa with no intermediary needed to sign off.
Join the #tbtc Discord channel to learn more about tBTC.