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BitSafe

BETH

BETH is a 1:1 wrapped Ethereum token by BitSafe, brought to the Canton Network through a dedicated decentralized bridge. BETH follows the Canton token standard and is designed to be fully backed by native ETH held in the bridge contract on Ethereum. The wrapped token is issued by a decentralized threshold of parties on Canton and is held non-custodially by the user. This reduces the risks associated with centralized custodians and traditional bridge architectures.

How the Ethereum Bridge works

Section titled “How the Ethereum Bridge works”

The reserve capital for BETH is held in a dedicated bridge contract on Ethereum. ETH can only leave the bridge with authorization from a decentralized network of Attestor nodes. This is not a traditional multisig wallet, but a threshold signature operation enforced by the bridge itself.

Here’s how it works:

  • Decentralized custody: Instead of a single entity holding withdrawal authority, the power to release ETH is distributed among a network of trusted, institutional-grade Attestor nodes. Each Attestor signs independently with its own key, and the bridge contract verifies that the required threshold of signatures is present before any payout.
  • Bound, replay-proof authorizations: Each Attestor signature uses the EIP-712 standard and is bound to a specific withdrawal request, destination, amount, Ethereum chain, and bridge contract. A signature cannot be reused for another payout or another deployment.
  • Native ETH: BETH wraps native ETH directly, not WETH or a staking derivative. Deposits are a single contract call to the bridge carrying the depositor’s Canton account identifier, supported by any wallet or custody setup that can make Ethereum contract calls.

This model ensures that no single Attestor can authorize a payout on its own. The security of value movement rests on the honest-majority assumption of the Attestor network, which is composed of highly reputable and financially incentivized participants. Administrative controls, such as upgrades and pauses, are governed separately and are described in the security documentation.

Dual network security

Section titled “Dual network security”

BitSafe Attestors don’t just observe Ethereum. They also verify state on Canton. The same trusted network confirms finalized ETH deposits and protects BETH issuance and redemption, creating seamless security across both networks.

This design also adds resilience. BETH is issued by a decentralized party on Canton, so governed actions such as mint and redemption approvals require a threshold of independent members rather than a single operator. Operations continue even if an individual member is unavailable, and no lone member can act for the network.

Why Canton?

Section titled “Why Canton?”

The BETH-Canton Network integration advances ETH adoption by enabling resilient, privacy-preserving flows for trading, structured products, and derivatives, alongside CBTC for Bitcoin exposure. Canton has the following features:

  • Configurable on-chain privacy settings: flows are visible only to the counterparties who need to see them.
  • Built for lending, trading, and settlements.