BitSafe’s CBTC, a 1:1 Bitcoin-backed token on Canton, is now live on Swap Monster.
The launch covers four markets: CBTC/CC, CBTC/USDCx, CBTC/EDELx and CBTC/TRAKXRWA.
Swap Monster uses private quotes rather than a public order book. A user chooses an asset and amount, then asks eligible traders or selected counterparties for a price. The quotes stay private, and the user can accept or reject them.
The assets being quoted remain in the trader’s wallet while the offers are reviewed. If a quote is accepted, both sides of the trade settle together on Canton without Swap Monster taking custody.
Swap Monster is designed for institutional participants and currently requires an invitation code. It is offering zero trading fees during the campaign. Only trades in the CBTC/CC market are eligible for campaign rewards.
