It is well known, due to the no-go theorems, that perfectly secure bit commitment is impossible. For that reason, there exist many proposals for bit commitment protocols that are secure under certain assumptions (such as the existence of a trusted party, computational hardness, or noisy memories). In this paper, we investigate the minimal assumptions required to obtain a secure bit commitment protocol. We show that it is possible to construct a bit commitment scheme with two parties Alice and Bob as long as there is a third party that is willing to broadcast either entangled qubits for the parties or to produce classical strings that are xor-correlated. We also show that the bit commitment scheme proposed is universally composable.