21.co’s Bitcoin Wrapper Embraces Chainlink Proof of Reserve for Enhanced Transparency

In a move that underscores its commitment to transparency and user trust, 21.co, a prominent provider of Bitcoin wrappers, has announced the integration of Chainlink Proof of Reserve into its platform. This strategic move comes at a time when other Bitcoin wrappers are facing intense scrutiny over their custody practices. 

By leveraging Chainlink’s industry-leading decentralized oracle network, 21.co will provide verifiable proof of its Bitcoin holdings, assuring users that their assets are securely held in reserve. This enhanced transparency is expected to further bolster confidence in 21.co’s services and attract a wider audience of users seeking reliable and secure Bitcoin custody solutions.

Chainlink Proof of Reserve offers a powerful tool for verifying the integrity of Bitcoin wrappers. Through its decentralized network of oracles, it provides independent and tamper-proof data on the reserves held by the platform, enabling users to independently verify the authenticity of the platform’s claims. This eliminates the risk of manipulation or misrepresentation, fostering an environment of trust and accountability.

The integration of Chainlink Proof of Reserve marks a significant step forward for 21.co, demonstrating its dedication to industry best practices and user security. It underscores the growing importance of transparency and accountability in the cryptocurrency space, particularly for custodial services that manage user funds.