Networks · Public, permissioned · run by Liquid Federation
Liquid NetworkNew
Federated Bitcoin sidechain launched by Blockstream in 2018. Anyone can hold and send assets on it, but blocks are produced by a federation of member firms (exchanges, brokers and other financial firms) rather than open mining. Its L-BTC is pegged two-way to bitcoin, and it supports issued assets such as stablecoins and security tokens with transfer restrictions.
4Deployments
14Organisations
Deployments on Liquid Network
Each row is a sourced claim on that deployment's record that it runs on Liquid Network. Balances are shown where a source gives one for this network.
| Deployment | Status | Assets | Held here | Evidence | Last reviewed |
|---|---|---|---|---|---|
| Blockstream Mining Note 2 (BMN2) on STOKR STOKR lists the BMN2 asset contract on the Liquid Network. | Live (limited) | ~$902.81m[5] 26 Oct 2026 | B STOKR[4] | Reviewed 12d ago | |
| Bitfinex Securities tokenised securities platform (Liquid Network) Bitfinex says all of its listings are underpinned by the Liquid Network. | Live (limited) | ~$250m[7] 2 Mar 2026 | B Bitfinex, 8 Sep 2025[6] | Reviewed 22d ago | |
| Tether USDt (USDT) Native USDT issued by Tether on Blockstream's Liquid sidechain since June 2019; listed by Tether as a currently supported protocol. | Live (scaled) | ~$33.71m[9] 15 Oct 2026 | B Tether[8] | Reviewed 13d ago | |
| PKH Mining Note 2 (PKH2) on STOKR | Live (limited) | — | B STOKR[10] | Reviewed 12d ago |
Sources
- [1]Blockstream Launches the Liquid Network — Blockstream, 10 Oct 2018. Accessed 15 Oct 2026. Chain went live on 27 September 2018 with 23 member firms managing it as a federation; L-BTC is two-way pegged to BTC..B
- [2]Bitfinex Securities Raises Capital for First Tokenized Bond on Liquid — Liquid Federation, 15 Nov 2023. Accessed 15 Oct 2026. Describes Liquid as built for issuing assets such as regulated security token offerings..B
- [3]Liquid Network Federation: Globally Distributed Consensus — Liquid Federation. Accessed 17 Oct 2026. The federation's members and functionary node operators run the network under a member charter, with Blockstream as technology provider..B
- [4]Mining Note BMN2 | STOKR — STOKR. Accessed 27 Oct 2026. Platform product page: instrument type structured note, issuer ORO Fund (I) - BM2, governing law Luxembourg Securitisation Law of 22 March 2004, first issue 5 Sep 2024, maturity 4 Sep 2028, underlying hashrate contract of 1 PH/s per note, Liquid Network; dated update feed..B
- [5]Blockstream Mining Note 2 asset page — RWA.xyz. Accessed 27 Oct 2026. ISIN LU2954899014; issuer ORO Fund (I) - BM2, compartment of a Luxembourg securitisation fund; total asset value $902.8m and 21 holding addresses (data updated 26 Oct 2026)..A
- [6]Bitfinex Securities Approaches $250 Million Tokenised Securities Milestone and Sets Out Plans to Attain Full Astana International Finance Centre Licence — Bitfinex, 8 Sep 2025. Accessed 15 Oct 2026.B
- [7]Bitfinex Securities to Recommence Tokenised Bond Issuances from ALTERNATIVE — Bitfinex, 2 Mar 2026. Accessed 15 Oct 2026.B
- [8]Supported Protocols and Integration Guidelines — Tether. Accessed 15 Oct 2026. Lists Liquid as a current protocol with its asset ID; lists Omni on Bitcoin as deprecated (property 31, kept for reference only). No Taproot Assets or RGB entry..B
- [9]Tether transparency data (JSON feed behind tether.to/en/transparency) — Tether. Accessed 15 Oct 2026. Per-chain total tokens, unissued treasury balance and quarantined tokens; read 15 Oct 2026..B
- [10]PKH Mining Note 2 | STOKR — STOKR. Accessed 27 Oct 2026. Platform product page: issuer Peak Hodl S.à r.l.; structured note under the Luxembourg Securitisation Law of 22 March 2004; issue date 2 Oct 2025; maturity 3 Sep 2028; 10% monthly revenue share on the borrower's gross revenue; collateralised by bitcoin mining hashrate; Liquid asset id 4eb459a5...7d00; minimum $115,000..B