BTC Proxy
  • BTC Proxy Documentation
  • Getting Started
    • What is BTC Proxy?
    • Current Challenges
    • Features
    • The Proxy Relay
    • BTC Proxy Advantages
    • Use Cases
    • User Interface & Navigation
    • On-Chain Transfer Restrictions
    • Fees
    • Minimizing Transaction Risks
  • Minting
    • How to Mint Video
    • What is Minting?
    • Minting Sequence
    • BTC Proxy Mint Interface
    • How to Mint?
  • Redeeming
    • How to Redeem Video
    • What is Redeeming/Burning?
    • Burning Sequence
    • BTC Proxy Redeem Interface
    • How to Redeem?
  • Custody
    • What is Custody?
    • Custodian Wallet Setup
    • Transferring Funds from Cold to Hot Wallets
    • Insured Custody
    • Regulated
    • Integration
  • PRXY Token
    • What is PRXY Token
    • Tokenomics
    • Functions of PRXY
    • Allocation
    • Roadmap
    • Legally Binding
  • BTC Proxy DeFi
    • Bitcoin Farming
    • Compound Staking
    • Treasury Bonds
    • Programs
    • Redux
  • Contract Addresses
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  1. Custody

What is Custody?

Explains the concept of custody

Asset-backed tokens usually involve trust in the institution(s) holding the asset; this seemingly goes against cryptocurrencies’ ethos, which seeks to minimize the need for trust in operations. Since BTC Proxy is a bridge between Traditional Finance and Decentralized Finance it must be able to operate within both ecosystems.

Custodians involve a regulated 3rd party that is entrusted to hold assets. Our selection for custodians involve a level of integration and requires API access which can accept instructions from the protocol.

BTC Proxy does not handle the assets. When users interact with BTCpx.io they are essentially transacting with the custodian.

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Last updated 3 years ago

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