Merchant Network
Powering Bitcoin Liquidity
Merchants are carefully vetted liquidity providers in the iBTC ecosystem, enabling select institutions to mint and redeem iBTC without bridges or custodians. These trusted entities—comprising trading firms, market makers, and asset managers—facilitate secure BTCFi while ensuring compliance and deep market liquidity.
Merchant Responsibilities
Minting iBTC: Lock BTC in 2-of-2 multisig vaults on Layer 1, triggering iBTC minting on target chains.
Redeeming iBTC: Burn iBTC and co-sign PSBTs with attestors to release BTC.
Providing Liquidity: Integrate iBTC into DeFi platforms, OTC desks, and trading venues (e.g., Curve, Uniswap).
Ensuring Compliance: Meet vetting standards and complete KYB verification via Fractl to uphold regulatory and financial integrity
Benefits of the Merchant Model
Bridgeless: BTC stays on Layer 1, avoiding bridge risks (e.g., Wormhole’s $326M hack).
Fast Transactions: Minting/redemption in 30-60 minutes vs. 3-12 hours for traditional wrapped BTC.
Institutional Access: Deep liquidity for DeFi and trading, supported by LPs
Compliance: KYB and due diligence ensures regulatory adherence, appealing to institutions.
Becoming a Merchant
Select institutions meeting stringent financial and compliance standards, including KYB verification via Fractl, may qualify to join the merchant network. The vetting process ensures alignment with institutional-grade criteria. Contact [email protected] to explore eligibility and onboarding.
KYB Verification: Pass Fractl’s compliance checks to join the network.
Secure BTC: Deposit BTC into a 2-of-2 multisig vault with attestors.
Mint/Redeem iBTC: Facilitate iBTC creation and redemption on supported chains.
Provide Liquidity: Deploy iBTC across DeFi and institutional markets. Eligible Entities: Trading firms, custodians (e.g., Ledger, Fordefi), market makers, asset managers. Start here.