tBTC is a Bitcoin-backed token pegged to the price of bitcoin. It allows holders to use bitcoin on the Ethereum blockchain and access the decentralized finance (DeFi) ecosystem. A user can obtain tBTC by depositing BTC into a specific wallet through the tBTC Decentralized App (dapp) within the Bitcoin blockchain. With tBTC, the custody method is a decentralized pool of custodians who each have to supply a good behavior collateral bond in Ether.