OKX Launches xBTC, a Wrapped Version of Bitcoin, on Solana, Aptos, and Sui

OKX, a leading cryptocurrency exchange, has introduced xBTC, a wrapped version of Bitcoin, on the Solana, Aptos, and Sui blockchain networks.

OKX, a leading cryptocurrency exchange, has launched xBTC, a wrapped version of Bitcoin, on the Solana, Aptos, and Sui blockchain networks. Meanwhile, BTC has just set a new record high above $111,000, which coincides with the network’s launch.

As of May 22, 3:00 a.m. UTC, users can now deposit and withdraw xBTC. Users can access xBTC to utilize Bitcoin in fast, low-cost decentralized finance (DeFi) ecosystems.

The wrapped Bitcoin token is pegged 1:1 to Bitcoin, with OKX holding the equivalent BTC reserves in custody. Through xBTC, Bitcoin holders can participate in lending, liquidity mining, and other decentralized finance opportunities on Solana, Aptos, and Sui. This effort aims to make Bitcoin more useful by connecting it to smart contract-enabled networks beyond its native blockchain.

xBTC Expands Bitcoin’s Utility Across Multiple Blockchains

Wrapped tokens represent underlying assets on different chains, promoting interoperability. Since Bitcoin lacks native smart contract functions, xBTC allows holders to interact with DeFi platforms on Solana, Aptos, and Sui. With OKX’s proof-of-reserves system, the value of every xBTC token is guaranteed by Bitcoin, ensuring openness and safety for participants.

“At OKX, we’re focused on providing seamless access to on-chain opportunities,” said Jason Lau, Chief Innovation Officer at OKX. “xBTC allows BTC owners to easily and quickly interact with decentralized finance applications in a cost-effective manner. We’re excited to be adding support for xBTC to more blockchain networks.”

The exchange hopes that this integration will encourage more users to engage with the xBTC ecosystem. Rising demand for products combining BTC’s safety and decentralized finance benefits underscores this multi-chain approach.

“We are pleased to see Aptos expand its support for xBTC, highlighting our commitment to real-world financial applications and enabling further liquidity growth within the Aptos ecosystem,” said Ash Pampati, Head of Ecosystem at Aptos Foundation.

Christian Thompson, Managing Director of Sui, added that this update showcases the rapid growth of BTCfi and supports the strength of Bitcoin-focused DeFi solutions on Sui.

BTC’s Recent Price Rally Supports Increased Demand for xBTC

On May 21, 2025, Bitcoin reached a new peak above $111,000. This surge has driven up futures open interest and trading activities. In the past 24 hours, BTC saw its trading volume increase by 77% to over $90 billion. Prices rose 8% over the past seven days and 25% over the past month.

OKX plans to capitalize on this positive development by introducing xBTC and related yield products such as staking and liquidity mining. BTC holders can mint xBTC by depositing through supported blockchains and use the wrapped tokens in various DeFi strategies. The exchange plans to add an xBTC-based income product on Solana, Aptos and Sui, spurring more Bitcoin transactions on-chain.

With the launch of xBTC, BTC contributes to decentralized finance through its role as a store of value and cross-chain interoperability. Through this initiative, OKX empowers BTC holders to generate income and engage with compelling Web3 applications while ensuring complete backing and security through transparent custody arrangements.