pTokens BTC (pBTC) serves as a 1:1 pegged representation of Bitcoin on Ethereum, Arbitrum, Algorand, Binance Smart Chain, Gnosis (former known as xDai), EOS, and Telos, while more will be added. It functions as a tokenized cryptoasset within the pNetwork ecosystem, which is an open-source multi-chain routing protocol designed to provide interoperability across various independent blockchains. These cross-blockchain capabilities allow for the issuance of "wrapped" tokens known as pTokens, which depend on keeping a 1-to-1 peg between the native blockchain and the host blockchain (for instance, Bitcoins wrapped to function on the Ethereum blockchain). Following the release of pNetwork V2, pTokens such as pBTC become fungible across chains, meaning users will be able to transfer their pBTC directly among any of the supported chains without needing to return to the native Bitcoin blockchain.