{"id":292972,"date":"2024-09-23T18:55:28","date_gmt":"2024-09-23T18:55:28","guid":{"rendered":"https:\/\/newhampshiredigitalnews.com\/index.php\/2024\/09\/23\/21-co-integrates-chainlinks-proof-of-reserve-on-solana-and-ethereum\/"},"modified":"2024-09-23T18:55:28","modified_gmt":"2024-09-23T18:55:28","slug":"21-co-integrates-chainlinks-proof-of-reserve-on-solana-and-ethereum","status":"publish","type":"post","link":"https:\/\/newhampshiredigitalnews.com\/index.php\/2024\/09\/23\/21-co-integrates-chainlinks-proof-of-reserve-on-solana-and-ethereum\/","title":{"rendered":"21.co integrates Chainlink\u2019s proof of reserve on Solana and Ethereum"},"content":{"rendered":"<p> <br \/>\n<br \/><img decoding=\"async\" src=\"https:\/\/crypto.news\/app\/uploads\/2023\/07\/MarketAcross-and-Chainlink-Labs-Establish-Channel-Partnership-To-Support-Chainlink-BUILD-Members01.jpg\" \/><\/p>\n<div>\n<p class=\"is-style-lead\">21.co, the parent company of crypto exchange-traded products issuer 21Shares, has integrated the Chainlink Proof-of-Reserve to enhance the transparency of its wrapped Bitcoin.<\/p>\n<p>According to a <a href=\"https:\/\/www.21.co\/blog-articles\/21-co-integrates-chainlink-por-wrapped-bitcoin-21btc\" target=\"_blank\" rel=\"noopener\">press release<\/a> on Sept. 23, 21.co will leverage Chainlink (<a rel=\"\" href=\"https:\/\/crypto.news\/price\/chainlink\/\">LINK<\/a>)\u2019s proof of reserves service on the Solana (<a rel=\"\" href=\"https:\/\/crypto.news\/price\/solana\/\">SOL<\/a>) and Ethereum (<a rel=\"\" href=\"https:\/\/crypto.news\/price\/ethereum\/\">ETH<\/a>) mainnets. The integration aims at increasing the reserves transparency for 21.co\u2019s wrapped Bitcoin dubbed 21BTC.<\/p>\n<h2 class=\"wp-block-heading\">21.co eyes on-chain reserves transparency for its 21BTC<\/h2>\n<p>21BTC launched on Solana in May 2024 and <a rel=\"\" href=\"https:\/\/crypto.news\/21co-rolls-out-wrapped-bitcoin-on-ethereum-blockchain\/\">on Ethereum<\/a> in early September 2024. <\/p>\n<p>The token is backed 1:1 by BTC reserves held in cold storage and institutional custody. Chainlink\u2019s service will broadcast the reserves on-chain for users to verify.<\/p>\n<p>Per the press release, 21.co will use the PoR via Onyx, the company\u2019s digital asset management platform. This collaboration will enable users to access real-time verification of 21BTC reserves. Proof-of-reserves will also bolster user and asset security during the minting process.<\/p>\n<p>In a comment, Chainlink Labs Chief Business Officer Johann Eid stated that secure minting is a step toward further growth in <a rel=\"\" href=\"https:\/\/crypto.news\/what-is-tokenization-and-how-does-it-work\/\">tokenization<\/a>.<\/p>\n<p>Beyond transparency, the partnership with Chainlink enhances the overall decentralization of 21BTC on the Ethereum and Solana chains.<\/p>\n<p>This aligns with the cryptocurrency industry\u2019s broader push for a decentralized ecosystem, focusing on areas such as real-world assets, decentralized finance, global trade, and gaming.<\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/crypto.news\/21-co-integrates-chainlinks-proof-of-reserve-on-solana-and-ethereum\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>21.co, the parent company of crypto exchange-traded products issuer 21Shares, has integrated the Chainlink Proof-of-Reserve to enhance the transparency of its wrapped Bitcoin. According to<\/p>\n","protected":false},"author":1,"featured_media":292973,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[163],"tags":[],"class_list":["post-292972","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newhampshiredigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/292972","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newhampshiredigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newhampshiredigitalnews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newhampshiredigitalnews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newhampshiredigitalnews.com\/index.php\/wp-json\/wp\/v2\/comments?post=292972"}],"version-history":[{"count":0,"href":"https:\/\/newhampshiredigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/292972\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newhampshiredigitalnews.com\/index.php\/wp-json\/wp\/v2\/media\/292973"}],"wp:attachment":[{"href":"https:\/\/newhampshiredigitalnews.com\/index.php\/wp-json\/wp\/v2\/media?parent=292972"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newhampshiredigitalnews.com\/index.php\/wp-json\/wp\/v2\/categories?post=292972"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newhampshiredigitalnews.com\/index.php\/wp-json\/wp\/v2\/tags?post=292972"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}