Bitcoin holders have long watched from the sidelines as Ethereum and its Layer 2 ecosystem hoovered up DeFi activity. VerifiedX is betting that the missing ingredient was a trustworthy bridge, not a lack of interest.
The project launched vBTC.b on Base on May 20, positioning it as the first non-synthetic Bitcoin representation on Coinbase’s EVM chain that offers native redemption back to actual Bitcoin through the VerifiedX network peg. Paired with a Fireblocks integration for institutional self-custody and listing, this is a play aimed squarely at the deep-pocketed crowd that needs more than a promise before moving capital on-chain.
What vBTC.b actually does
Think of vBTC.b as a receipt for real Bitcoin, except the receipt lives on Base and can be used across DeFi protocols. The “native redemption” part is key: holders can swap vBTC.b back to Bitcoin through the VerifiedX network peg without relying on a centralized intermediary to honor the exchange.
On the security front, the architecture uses FROST-based threshold signatures, a cryptographic approach where multiple parties must cooperate to sign transactions. No single key holder can unilaterally move funds. Zero-knowledge proofs add a privacy layer, and the entire stack is compatible with Bitcoin’s Taproot upgrade. Halborn, the blockchain security firm, conducted the audit.
