BTCB is a Bitcoin-pegged token issued on Binance Chain. Crypto exchange Binance maintains this peg by ensuring each BTCP is 100% backed by a reserve of actual Bitcoin. Binance published the reserve address to allow interested third parties to audit the contents of the crypto exchange's Bitcoin pool and compare it to the number of issued BTCB. By introducing a Bitcoin substitute, Binance opened up the trading possibilities for users of its decentralized exchange (DEX), the primary service supported by Binance Chain.