21.co adds Chainlink Proof of Reserve for 21BTC transparency

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21.co has integrated Chainlink Proof of Reserve on Solana and Ethereum mainnets to increase transparency for Wrapped Bitcoin (21BTC). This move automates real-time reserve verification and allows 21BTC to be minted safely.

“21Shares and Chainlink have played fundamental roles in driving the adoption of a more secure blockchain infrastructure, and we are excited to see 21Shares integrate Chainlink Proof of Reserve to support 21BTC,” said Johann Eid, Chief Business Officer at Chainlink Labs.

Eid added that Proof of Reserve has a role to play in enabling a secure minting feature, which is a key step in creating a trust framework to enable the tokenization of trillions of dollars in value.

21BTC, launched on Solana in May 2024 and expanded to Ethereum in September 2024, is a native token fully backed 1:1 by Bitcoin reserves held in cold storage and institutional custody. Chainlink Proof of Reserve provides on-chain updates on the status of these BTC reserves.

“The Proof of Reserve Chainlink standard is essential to provide transparency to the reserves backing 21BTC, helping secure its mintage function and supporting its widespread adoption in the Solana and Ethereum ecosystems,” Eliezer Ndinga, Head of Strategy and Business Development, Digital. Active at 21.co, he added.

Ndinga also highlighted the need for a secure coin feature, a feature that gives users greater assurance that 21BTC is fully backed by BTC 1:1.

Integration offers several benefits, including programmatic utility, increased trust through secure dialing, decentralization and transparency. Users can independently verify asset collateral in real time.

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