TzBTC

Launched in April 2020, tzBTC is a token on the Tezos blockchain that is backed 1:1 by Bitcoin. This initiative was spearheaded by the Bitcoin Association Switzerland, aiming to merge Bitcoin's liquidity and stability with Tezos' advanced smart contract capabilities. The collaboration involved multiple Swiss crypto firms, including Swiss Crypto Tokens, Inacta, Taurus, and LEXR, who serve as Keyholders, and Bitcoin Suisse, Sygnum, Woorton, and Bity, acting as Gatekeepers. (tezos.foundation)

In May 2024, tzBTC introduced version 2.0, enhancing the original framework by automating key processes to improve efficiency and accessibility. This upgrade maintained the token's transparency and compliance while reducing costs and streamlining user interactions. The updated system leverages the Acurast execution environment to automate minting and burning processes, ensuring a seamless experience for users. (spotlight.tezos.com)