News ·
Cashen Announces cashBTC: Trust-Held Bitcoin Comes to Canton
Cashen has announced cashBTC, a bitcoin asset native to the Canton Network with reserves held by a licensed trustee rather than a company.
This article was published in BSCN (11/10/2026).
LONDON, November 10, 2026 — Cashen today announced cashBTC, the first bitcoin asset on the Canton Network with reserves held by a licensed trustee rather than a company. Each cashBTC is backed 1:1 by bitcoin in segregated cold storage at BitGo Bank & Trust, N.A., with verifiable onchain reserves. cashBTC will launch in Q1 2027 with institutional liquidity from day one, provided by a network of Authorized Minters.
Issued by Cashen International Limited using Digital Asset’s tokenization infrastructure, cashBTC is native to the Canton Network and private by design. Minting and redemption are open only to vetted, onboarded institutions. Every cashBTC is minted as bitcoin enters the reserve and burned before any leaves, and no single key, person or company can move the reserve.
“Institutions want bitcoin on Canton, but not if it means trusting a single company or giving up legal recourse,” said Luke Farrell, Founder of Cashen. “cashBTC solves both: a licensed trustee holds the reserve, BitGo secures it, and anyone can check it’s all there, at any time.”
“With the growth of trading, lending, and collateral use cases on Canton, institutions need BTC they can leverage with the same privacy they are accustomed to in traditional markets,” said Chris Zuehlke, Global Co-Head of Cumberland DRW. “Cashen’s focus on privacy at the transaction and individual wallet level with regulated custody and transparent reserves makes us excited about what they are building, and we look forward to providing liquidity at launch.”
Cashen is onboarding its first cohort of institutions, venues, and applications ahead of the Q1 2027 launch. Institutions and protocols interested in minting or integrating cashBTC can register at cashBTC.cc.
About Cashen
Cashen builds institutional-grade markets on the Canton Network. It operates the largest Canton Coin Locking Marketplace, where Super Validators and Featured Apps source CC from third-party holders to satisfy CIP-105 and CIP-116 locking requirements. Cashen’s marketplace has more than 525M CC in active deals across 80+ organizations, representing nearly 40% of total Featured App locking weight on Canton. Cashen is a member of the Canton Foundation and is backed by DRW Labs.
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