What is a cross-chain swap without a bridge?
A native cross-chain swap trades a coin on one chain for a coin on another, for example Bitcoin for Ether, by moving the real coins between vaults instead of minting wrapped copies on a bridge.
Also called native swap or cross-chain swap.
How it works on THORChain
You send Bitcoin to THORChain’s Bitcoin vault with a short instruction. The network prices it against RUNE, and the Ether vault sends real Ether to the address you named. No wrapped token is created at any point.
In Redacted
Private swaps on Redacted use the same native swaps, started from a private account instead of a public wallet.
Private swaps →Related terms
THORChainTHORChain is a network that swaps native coins across chains, such as Bitcoin for Ether, with no bridges and no wrapped tokens. The coins sit in vaults on their home chains, secured by about 100 independent node operators.RUNERUNE is THORChain’s native asset. Node operators bond it to take part in the network, and it sits on one side of every pool of liquidity, so a swap from Bitcoin to Ether runs from BTC to RUNE to ETH in one flow.Wrapped tokenA wrapped token stands in for a coin from another chain, such as WBTC for Bitcoin on Ethereum. It is worth the real coin only as long as whoever holds the original keeps it safe and honors redemptions.
Updated October 7, 2026. All terms