BitSafe has launched BETH, a 1:1-backed wrapped ETH product for institutional ETH strategies on Canton Network. Traders and market makers can now get ETH exposure natively on Canton Network while keeping balances and positions confidential. Trading on Temple is now live, where users can leverage Temple’s BETH-USDCx market to move between ETH exposure and dollar-denominated liquidity as their strategies and treasury needs change.
Built on the audited infrastructure behind CBTC, BETH’s multi-sig technology distributes control over issuance, redemption and custody across independent operators, ensuring that no single party can issue BETH or move the underlying ETH reserves alone. With rigorous due diligence and the underlying Decentralization Manager infrastructure independently audited by Quantstamp, BETH provides landmark institutional resilience by reducing the risk of single-node outages or dependencies, which leave users unable to move or access their assets.
“Canton is one of the only onchain environments where institutions can participate directly with digital assets in a compliant, private way,” says Dan Simerman, Co-Founder and CSO of Temple Digital Group. “Giving institutions ETH exposure on Temple, through a non-custodial model, without an ETF, is something novel that did not exist until recently. We’re excited to work with BitSafe to bring this new way to access ETH to market.”
By extending the trusted and distributed infrastructure already used for CBTC, BitSafe is enabling the Canton ecosystem with a core asset resilient enough to power institutional strategies.
How to start trading
BETH-USDCx trading is live now on Temple, with wallet support from Bron, Console, Send and Loop. To get started, create a Temple account and complete the required onboarding to trade BETH.
For minting BETH against ETH or redeeming BETH for ETH, contact a member of the BitSafe team for onboarding details.
Further venue integrations and ecosystem collaborations are planned. Upcoming updates will cover where BETH becomes available next.
Details on BETH and its supported integrations are available in the BETH ecosystem guide.