Coincheck, a subsidiary of Monex Group Inc, will start offering Wrapped Bitcoin (WBTC) on its marketplace and exchange for the first time in Japan.

Wrapped Bitcoin (WBTC) will be offered on Coincheck’s marketplace and exchange, and the company will provide liquidity for a certain period of time from the start of listing on the exchange.

Immediately after the start of the listing on the exchange, it is expected that selling orders will fall short of purchasing demand due to fewer customers holding Wrapped Bitcoin (WBTC). Therefore, in order to maintain a balance between demand for purchasing and selling, and to provide a smooth trading environment for customers, Coincheck will place selling orders (maker orders).

Wrapped Bitcoin (WBTC) has two unique features. One is the compatibility with Bitcoin (BTC) and Ethereum issued on different chains by standardizing Bitcoin (BTC) into the ERC-20 format, and the other is that the price is designed to be linked to 1WBTC=1BTC.

Wrapped Bitcoin (WBTC) uses Bitcoin (BTC) as collateral for value. The supply is minted and burned by a company that provides custody services for crypto assets, resulting in a price linkage of 1WBTC = 1BTC.