BTCB (Binance-Peg Bitcoin) is a BEP-20 token on BNB Smart Chain that Binance issues and backs 1:1 with bitcoin it holds in custody. One BTCB is designed to equal one BTC, letting bitcoin move and trade on BNB Chain. The trade-off is custodial risk: the peg depends on Binance holding the reserves and honouring redemptions.
On 21 October 2026, the BTCB contract on BNB Smart Chain showed a total supply of about 65,301 BTCB (BscScan), worth roughly $5.4 billion at CoinGecko's BTCB price that day of about $82,600. This guide explains how BTCB works, how to check its reserves, and how its risks compare with holding bitcoin directly.
How does BTCB work?
BTCB is a wrapped, or pegged, version of bitcoin. Binance launched it on 17 June 2019 as a BEP2 token on the original Binance Chain, reserving 9,001 BTC and minting 9,001 BTCB. BTCB now lives on BNB Smart Chain as a BEP-20 token at 0x7130d2a12b9bcbfae4f2634d864a1ee1ce3ead9c, which BNB Chain describes as "the official and unique address of BTCB on BSC". The original chain, later called BNB Beacon Chain, has since been retired. In simple terms, the cycle works like this:
- Bitcoin goes into Binance's custody and stays locked there.
- Binance issues the same amount of BTCB on BNB Smart Chain.
- BTCB moves like any BEP-20 token, between wallets, decentralised exchanges, lending apps and fund vaults.
- To exit, a holder converts BTCB back to BTC through Binance, and the locked bitcoin is released.
Because BTCB runs on BNB Smart Chain, transfers pay gas in BNB and confirm in seconds rather than waiting for bitcoin's roughly ten-minute blocks. If the network is new to you, start with what BNB Chain is and how it works.
How is BTCB's 1:1 peg maintained?
The BTCB peg rests on reserves and conversion. Binance holds bitcoin equal to the BTCB in circulation, and holders can convert between BTC and BTCB through Binance. If BTCB trades below BTC, traders can buy BTCB cheaply and convert it, which pushes the price back up. In its 2019 launch post, Binance said it kept buy orders on the BTCB/BTC market, funded from the reserve, so anyone could swap back into bitcoin. BNB Chain notes that the locked BTC and the BTCB supply may not match exactly at every moment, because of delays in the audit process.
No algorithm or over-collateralisation protects the peg. If confidence in Binance's reserves or redemptions faltered, BTCB could trade below bitcoin.
Who holds the bitcoin behind BTCB, and can you verify it?
Binance holds the bitcoin. BNB Chain says Binance keeps the equivalent bitcoin in a multi-signature cold storage wallet. Binance published the reserve address when it launched BTCB in 2019, 3LYJfcfHPXYJreMsASk2jkn69LWEYKzexb, and anyone can look it up on a Bitcoin block explorer.
| Measure | Value | Where to check |
|---|---|---|
| BTC at the published BTCB reserve address | About 68,200 BTC | mempool.space (Bitcoin explorer) |
| BTCB total supply on BNB Smart Chain | About 65,301 BTCB | BscScan (BTCB contract) |
On that day, the published address held more bitcoin than the BTCB supply on BNB Smart Chain. Separately, Binance runs exchange-wide proof of reserves, which uses a Merkle tree and zk-SNARK proofs so customers can check that their exchange balances are included in its totals. Our guide to proof of reserves explains the limits: an address balance shows that the coins exist, not who else may have a claim on them, and outsiders cannot see how the signing keys are controlled.
What are the risks of BTCB compared with native bitcoin?
| Feature | Native BTC | BTCB |
|---|---|---|
| Who secures it | Bitcoin's proof-of-work network | BNB Smart Chain validators plus Binance custody |
| Counterparty | None if you hold your own keys | Binance must hold the reserves and honour conversions |
| Supply control | Fixed protocol rules | Binance mints and redeems |
| Block time and fees | About 10 minutes per block; fees vary with demand | About 0.45 seconds per block; fees usually under one US cent |
| Where it can be used | Bitcoin network | BNB Smart Chain wallets, exchanges and DeFi apps |
Custodian and counterparty risk
BTCB is a claim backed by Binance's bitcoin. If Binance lost the reserves, suffered a hack, became insolvent or was ordered to stop redemptions, BTCB could lose its peg while native bitcoin would be unaffected.
Access and redemption risk
Converting BTCB back to native bitcoin goes through Binance, so it depends on access to a Binance account and on Binance's rules where you live. Selling BTCB on a decentralised exchange is the alternative, at whatever price the market offers.
Chain and smart-contract risk
BTCB inherits the risks of BNB Smart Chain. In October 2022, an attacker exploited BSC Token Hub, the bridge between the old Beacon Chain and BNB Smart Chain, and withdrew 2 million BNB; validators suspended the chain while the incident was contained (BNB Chain). Apps that accept BTCB add their own contract risk; see DeFi basics for how lending and trading protocols work.
Concentration risk
Holding BTCB adds exposure to Binance on top of bitcoin's price risk. Combining it with other Binance-issued assets concentrates that exposure further.
BTCB vs WBTC vs cbBTC: what's the difference?
All three are custodial bitcoin wrappers: a company holds BTC, and a token represents it on another chain. They differ mainly in who holds the coins and where the tokens live. Details for WBTC come from wbtc.network; cbBTC launch details come from Cointelegraph's launch report.
| Feature | BTCB | WBTC | cbBTC |
|---|---|---|---|
| Who mints and redeems | Binance | Identity-verified institutions approved through WBTC DAO governance | Coinbase |
| Who holds the BTC | Binance (multi-signature cold storage, per BNB Chain) | BitGo-led custody; in August 2024 BitGo announced a move to multi-jurisdictional custody with BiT Global | Coinbase |
| Main networks | BNB Smart Chain | Ethereum, plus Solana, Tron, BNB Chain, Base and others | Launched on Ethereum and Base in September 2024 |
| Route back to BTC | Through Binance | Through a WBTC merchant | Through Coinbase |
None of these wrappers removes custodian risk; each swaps it for trust in a different company. Only native bitcoin, held with your own keys, avoids that dependency entirely.
How can you check that a BTCB token is genuine?
Anyone can deploy a BEP-20 token called "BTCB" or "Bitcoin", so the name in your wallet proves nothing. Before you buy, receive or accept BTCB:
- Compare the token's contract address with the official one, 0x7130d2a12b9bcbfae4f2634d864a1ee1ce3ead9c, character by character.
- Open the contract on BscScan and check that the name is "BTCB Token", the symbol is BTCB and the token uses 18 decimals.
- In a self-custody wallet, add BTCB as a custom token by pasting the contract address rather than picking a name from a search list.
- Be wary of BTCB offered well below the bitcoin price; a large discount usually signals a fake token or a scam.
Why do all three Wealtii funds hold BTCB?
Every Wealtii fund includes bitcoin, and because the funds hold their assets on BNB Smart Chain, that bitcoin is held as BTCB. Target allocations are 33.9% of the Wealtii Digital Asset Core Index Fund, 8.0% of the Wealtii Tech & Digital Asset Growth Fund and 7.3% of the Wealtii Multi-Asset Balanced Allocation Fund. Fund investors therefore carry BTCB's custodial wrapper risk, meaning reliance on Binance, in addition to bitcoin's price risk. The vault's BTCB balance is public: see Wealtii's transparency page or follow our guide on how to verify Wealtii's reserves on-chain.
Frequently Asked Questions
Is BTCB the same as Bitcoin?
No. BTCB is a BEP-20 token on BNB Smart Chain that Binance backs with bitcoin it holds. It is designed to track bitcoin's price 1:1, but holding BTCB means relying on Binance's custody and redemption, which native bitcoin held in your own wallet does not.
Is BTCB backed 1:1 by bitcoin?
Binance states that BTCB is backed 1:1 by bitcoin held in its custody. On 21 October 2026, the reserve address Binance published at launch held about 68,200 BTC, while BTCB's total supply on BNB Smart Chain was about 65,301. Balances change, and an address balance does not prove that no one else has a claim on the coins.
How do I convert BTCB back to BTC?
Converting BTCB into native bitcoin runs through Binance and is subject to Binance's account rules and fees. Alternatively, you can sell BTCB for another asset on a decentralised exchange at the market price.
What is the official BTCB contract address?
On BNB Smart Chain, BNB Chain lists 0x7130d2a12b9bcbfae4f2634d864a1ee1ce3ead9c as the official BTCB contract. Always check the contract address before buying, because anyone can create a token with the same name.
Which Wealtii funds hold BTCB?
All three. BTCB is a 33.9% target allocation in the Wealtii Digital Asset Core Index Fund, 8.0% in the Wealtii Tech & Digital Asset Growth Fund and 7.3% in the Wealtii Multi-Asset Balanced Allocation Fund.
Sources & References
- Binance — Introducing Bitcoin-Pegged Token (17 June 2019) (accessed 21 Oct 2026)
- BNB Chain — BTCB on Binance Smart Chain 101 (accessed 21 Oct 2026)
- BNB Chain — The Role of BTCB in Building Trust (accessed 21 Oct 2026)
- mempool.space — BTCB reserve address 3LYJfc…zexb (accessed 21 Oct 2026)
- Binance — Proof of Reserves (accessed 21 Oct 2026)
Disclaimer: This content is for educational purposes only and does not constitute financial, tax, or legal advice. On-chain figures are snapshots as of the dates stated and change constantly. Wrapped tokens and other digital assets are volatile and carry risk of loss, including custodian and smart-contract risk. Wealtii is an interested party: all three of its funds hold BTCB. Consult a licensed professional before making investment decisions.
