Bitway offers a permissionless and fully on-chain infrastructure that enables Bitcoin holders to access on-chain financial products using their existing wallets and addresses. The goal is to build the missing layer that bridges Bitcoin liquidity between decentralized finance and traditional finance.

What is Bitway (BTW)?

Bitway positions itself as an “Internet Capital Gateway.” At the core of this approach lies the fact that a large portion of on-chain capital remains idle. Today, billions of dollars in digital assets are fragmented across blockchains, wallets, and exchanges, unable to directly access real yield sources in the global financial system.

Traditional finance offers institutional-level risk management and sustainable yields but is restrictive in terms of access. DeFi provides global access and transparency but often lacks stable and audited yield mechanisms. Bitway aims to create a neutral and reliable infrastructure layer between these two worlds.

Through this infrastructure, on-chain capital can be directed toward transparent and risk-managed strategies sourced from both DeFi and TradFi.

How Does Bitway Work?

Bitway is built on the Bitway Ledger, a fully Bitcoin-compatible Layer-1 blockchain. The protocol is designed to be directly compatible with Bitcoin addresses, Bitcoin wallets, and Bitcoin’s UTXO structure. Users do not need to create an EVM wallet, use a bridge, or deal with different address formats.

The system consists of multiple integrated components: Bitway Ledger, Bitway Lending, Bitway Earn, and the ɃTCT Bitcoin bridge.

Bitway Ledger: Bitcoin-Compatible L1 Appchain

Bitway Ledger is an appchain built on Cosmos-SDK and CometBFT, offering high transaction capacity and fast finality. Its most important difference is its support for fully Bitcoin-compatible address and signature structures.

Bitcoin Compatibility

• Supports Taproot and Native SegWit addresses
• Uses Bech32 and Bech32m address formats
• Transactions can be directly signed with Bitcoin wallets such as OKX Wallet, Unisat, and Ledger
• No need for MetaMask or EVM wallets

Additionally, Bitway Ledger includes a built-in SPV (Simple Payment Verification) client. This allows transactions on the Bitcoin mainnet to be verified with 6 confirmations.

Gas-Free Payment Experience

One of Bitway’s standout features is its gas-free payment mechanism. When users transact with Bitway’s native wrapped Bitcoin asset, BTCT, they do not need to hold a separate gas token. Transaction fees are managed through the protocol’s internal sponsorship mechanism.

This structure:

• Enables micro-payments
• Supports subscription-based payment models
• Provides instant settlement without intermediaries
• Offers suitable infrastructure for commercial integrations

Bitway Lending: Borrowing with Native BTC

Bitway Lending is a fully non-custodial lending protocol that allows Bitcoin holders to access liquidity without selling their assets. The system is built on Bitcoin’s UTXO model and Discreet Log Contracts (DLC).

Key Features

• BTC collateral is locked on the Bitcoin mainnet
• Loans are issued on the Bitway Ledger
• Loan approval and distribution are instant
• No credit score, KYC, or permission required

Collateralized BTC is held in 2-of-2 multisig vaults and can only be released under pre-signed conditions. The liquidation process occurs through oracle verification and pre-authorized CETs (Contract Execution Transactions).

Liquidation and Trust Model

In Bitway Lending, BTC collateral can only be released in four cases:

• Loan repayment
• Price-based liquidation
• Default at maturity
• Failsafe timeout

When liquidation occurs, third-party liquidators can purchase the collateral at a discount. After the debt is closed, any remaining BTC is returned to the user. The system minimizes trust assumptions by separating roles among oracles, validators, and the Distributed Collateral Manager (DCM).

Bitway Earn and the DeTraFi Approach

Bitway Earn is a practical implementation of the DeTraFi (Decentralized + Traditional Finance) model. Users can deposit assets into staking vaults on BNB Chain and other EVM networks to access institutional-level yield strategies.

Core Structure of Bitway Earn

• Audited staking vaults
• Market-neutral (delta-neutral) strategies
• Institutional custody solutions
• Normal and Flash Unstake options

Yields are regularly reflected in the vault, and users can close their positions at any time.

Tokenized Real-World Assets (RWA)

Bitway provides access to institutional-level RWAs such as tokenized treasury bills, commodities, and trade finance products. Yields can be calculated in Bitcoin terms and collected as BTC or fiat.

This structure aims to transform Bitcoin from merely a store of value into a productive capital asset.

BTCT: Bitway Bitcoin Bridge

BTCT is a validator-operated, FROST-based Bitcoin bridge embedded in the Bitway Ledger. Its main features:

• Gas-free BTC transfers
• Key refresh support
• No need for manual bridging steps
• Multi-chain liquidity routing

Bitway (BTW) Tokenomics

The native token of the Bitway ecosystem is Bitway (BTW).

• Ticker: BTW
• Total Supply: 1,000,000,000 BTW

The BTW token has various use cases, including on-chain incentives, governance mechanisms, protocol fees, and supporting ecosystem growth. Token-based incentive models are expected to be introduced in the long term for Bitway Earn and Lending products.

Additionally, Bitway Earn users earn BW Points on a time basis for every 1 USD deposited. These points are planned to be converted to BTW tokens in the future.

Bitway Investors

Bitway is backed by strong investors from various stages. These investors have deep expertise in both blockchain infrastructure and financial products.

Tier 1

• HashKey Capital
• YZi Labs (formerly Binance Labs)

Tier 3

• Symbolic Capital
• KR1
• Continue Capital

Tier 4

• Injective
• DECOM

Bitway Team

Bitway is developed by a team experienced in Bitcoin and on-chain finance. The team focuses on the long-term potential of Bitcoin-compatible financial infrastructures.

• Shane Qiu – Co-Founder

Official Links

• Website
• X (Twitter)
• Whitepaper

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Significant Progress in Crypto Offerings

A status chart shared by River on August 8 tracks these banking giants’ positions in custody and trading services. The snapshot reveals many firms moving from “not yet” into “exploring,” “announced,” or offering restricted access for high-net-worth clients. This trend signals that digital assets are steadily integrating into mainstream wealth management and capital markets.

Concrete Moves by Leading Banks

Tangible actions since early 2024 illustrate this transformation. For example, Morgan Stanley is considering allowing its 15,000 brokers to recommend spot Bitcoin ETFs to clients, while working on suitability guardrails and allocation limits—indicating an expansion beyond unsolicited orders.

More recently, Charles Schwab’s CEO announced plans to enable customers to trade both Bitcoin and Ethereum, aiming to provide a unified platform where all holdings can be viewed and managed.

On the banking side, PNC went further by partnering with Coinbase so that wealth and asset management clients can trade crypto directly through their PNC accounts instead of a separate platform.

Advances in Custody and Tokenization

State Street announced plans to launch stablecoins and tokenize deposits to improve settlement efficiency, with subsequent initiatives expected to tokenize bonds and money market shares.

BNY Mellon frequently appears in filings and product developments, including roles as administrator and cash custodian in ETF documents. The bank has also recently served as custodian for reserves linked to Ripple’s RLUSD stablecoin.

Next-Generation Financial Services and Pilot Projects

Citi has explored Solana for next-gen financial services and tokenization pilots, and reportedly considered custody services in early 2025.

JPMorgan launched several crypto-related projects in 2025. In June, it initiated a pilot for a tokenized deposit token issued on Base, aiming to enable instant dollar transfers.

The bank’s CEO, Jamie Dimon, revealed plans to test stablecoin services alongside the tokenized deposit pilot, though he has not retracted his previous criticisms of crypto.

Last week, JPMorgan enabled its customers to make direct crypto purchases via Coinbase without leaving their dashboard.

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Secure Transfer of Private Keys

Tangem’s new technology allows private keys to be transferred securely even over a smartphone or an untrusted intermediate device. The patent is entitled “Systems and methods for transferring confidential data through an untrusted intermediate device”.

The technology allows users to make encrypted and secure backups without the need to manually store their private keys. Advanced cryptography techniques such as the Elliptic Curve Diffie-Hellman (ECDH) encryption protocol are used to securely exchange the private key between two trusted devices.

Why Tangem’s Private Key Backup Solution Matters

Self-custody allows users to manage their crypto assets without depending on third parties. However, the loss or theft of private keys is a common risk. The technology developed by Tangem allows users to enjoy the benefits of self-storage without directly storing their keys.

Main features of the technology:

• Seedless (Keywordless) Backup
• End-to-End Encryption
• Secure Transmission over Untrusted Intermediate Devices
• Tamper Resistant Authentication

This innovation allows users to securely store private keys without the need to manually note them down or depend on physical backup devices.

Criticisms of Private Key Backups

Private key backup systems have always been a controversial topic in the crypto community. Adopting the “if you don’t own your keys, you don’t own the coins” mentality, many investors argue that only they should keep their private keys.

For example, Ledger faced a huge backlash when it announced a cloud-based private key recovery system in 2023. Similarly, at the end of 2024, Tangem leaked some users’ private keys via email due to a security flaw. The company announced that this was due to a bug in their mobile app and that the issue had been fully fixed.

This criticism of private key backup has led some traders to still prefer traditional methods such as fire-resistant metal plates or Shamir Backup.

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