tBTC is the Bitcoin Standard for DeFi. The most decentralized Bitcoin Onchain, with 5 years of proven security, developed by Threshold Network (@theTNetwork)
Verifiable Bitcoin Accounts enable institutions to hold Bitcoin with the same rigor applied to other assets.
Built directly on Bitcoin Script, by the protocol that has operated with Bitcoin for six years, processed over $5 billion in cumulative volume, and has zero recorded losses - @TheTNetwork
Introducing Verifiable Bitcoin Accounts by Threshold.
Built based on what institutions actually need for Institutional Bitcoin deployment: segregated custody, preauthorized spending paths, signer combinations, timelocks, verifiable UTXOs, and clear recovery routes.
Every tBTC mint and redemption is settled by an SPV proof. Since tBTC v2 launched in 2022, the protocol has used SPV so the host chain can confirm a Bitcoin deposit directly against Bitcoin's proof-of-work, without needing an operator to vouch for it.
This write-up documents that infrastructure: https://t.co/j8V4MJNBwj
tBTC supply is up 32% year over year, anchored largely on Ethereum, with redemption to native Bitcoin kept direct. That growth stands out, as supply is held on the venues with the deepest liquidity.
tBTC deposits on @Aave V3 - @Ethereum crossed 2,000 tBTC in July, with the 60-day view climbing off from early June.
Bitcoin remains the reference collateral for onchain credit.
Access stablecoin liquidity without selling your Bitcoin, with tBTC as collateral across major DeFi lending venues. You can compare current variable borrow rates below.
Bitcoin DeFi contracted to 91k BTC by mid-2026, roughly 0.46% of the circulating supply.
Custody model, not liquidity depth, now decides where institutional BTC gets deployed onchain. Here are the events that reset the market, and where it's headed next: https://t.co/YFPNwIeIKC
tBTC on Base holds about $3.59M in Bitcoin backing. That figure is best read as a record of how the asset itself behaves under open mint and redemption. Since December, supply has held between roughly 48 and 61 BTC, a floor that has stayed level for more than half a year.
tBTC is minted and burned permissionlessly against real Bitcoin, so its supply tracks genuine organic demand.
Threshold Network maps three use cases for Bitcoin:
Bitcoin's circulating supply sits at 20M, yet under 2% is tokenized and usable onchain. Of the Bitcoin already working in DeFi, 65%+ of it is still under centralized control, and of the 2.4M BTC in ETFs and corporate treasuries (1.2M in US spot ETFs, 1.26M in public company balance sheets, led by Strategy at 843,775 BTC), less than 1% is effectively used onchain.
Threshold offers 3 models for building the Bitcoin Economy, providing composability and permissionless redemption to native Bitcoin.
tBTC's footprint in DeFi has been built by holders deploying it directly into financing markets. The Threshold vaults dashboard marks the next stage:
Four vaults across three networks, led by Yield Basis at $22.8M, hold $24.6M in TVL combined. That is 7.8% of all tBTC in circulation, and about 13% of its DeFi-deployed value, routed through vault strategies.
"Who could forget about FTX?"
Callan Sarre ( @saprophetik ) Co-Founder and CPO of Threshold Labs,
joined Tech Talks Daily to examine the counterparty risk that centralized custody introduces to Bitcoin collateral and how tBTC removes the single actor that past exchange failures depended on.
With Threshold's decentralized custody mechanism, no entity holds unilateral control over the underlying BTC, an important aspect institutions look for when deploying BTC in DeFi. Watch here:
A quick read on how much real Bitcoin is working in DeFi relative to the network's valuation:
DeFi TVL/FDV climbed from 6.5 to 7.4 in Q1 2026, up 13% from the prior quarter and 228% over the past year. Since most of that locked value is held in $tBTC, the ratio largely tracks how much Bitcoin is moving into DeFi via tBTC, and those flows have grown in the double digits in BTC terms each quarter since Q3 2025.
We are excited to announce a new product integration with @TheTNetwork to bring tBTC to the Abra platform.
Threshold Network has continued to increase integration across various decentralized finance applications and we are excited to bring the asset to the platform to drive added utility for BTC.
As DeFi matures, the market continues to show a preference for trust-minimized token assets, and ethereum:0x18084fba666a33d37592fa2633fd49a74dd93a88 remains the strongest permissionless wrapped Bitcoin on-chain.
tBTC usage is now visible across Ethereum and several additional network ecosystems, including Aave, Compound, Alphalend, Vesu, and Morpho Blue.
In the latest view, Ethereum accounts for $127M in tBTC TVL on Aave v3 and $6.3M on Compound. Morpho Blue is shown at $1.8M, while Sui’s Alphalend integration holds $3.0M in tBTC TVL.
Disclaimer: This is not financial advice; please DYOR before participating in DeFi.