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

input: OKX is launching a wrapped version of BTC, xBTC, on Solana, Sui, and Aptos networks as the Bitcoin price has reached a new all-time high of $111k. Users across these platforms can now mint xBTC on OKX, unlocking new opportunities for trading, lending, and exploring Web3 strategies.

Crypto exchange OKX is launching a wrapped version of BTC, named xBTC, on Solana, Sui, and Aptos networks.

As the Bitcoin price hit a new all-time high (ATH) of $111k, users across these platforms can now mint xBTC on OKX, and begin trading, lending, and exploring Web3 strategies with BTC.

As part of its broader strategy to promote interoperability and expand Bitcoin’s utility across multiple blockchains, OKX is introducing xBTC, a newly launched 1:1 Bitcoin-pegged wrapped asset.

With xBTC, Bitcoin holders can now tap into the fast-growing DeFi opportunities on Solana, Sui, and Aptos, generate yield, and maintain exposure to Bitcoin’s value.

This follows close on the heels of OKX’s decision to re-enter the US crypto market.

BTC deposits and withdrawals on Solana, Sui, and Aptos will be open from 22 May 2025, 3:00 am UTC.

“We're focused on delivering seamless usability and accessibility to on-chain use cases,” said Jason Lau, Chief Innovation Officer at OKX.

“With the introduction of xBTC, we aim to empower Bitcoin holders to effortlessly utilize their BTC in the diverse and rapidly expanding DeFi applications available on Solana, Sui, and Aptos, all while enjoying the speed and low-cost transactions that these Layer-1s are known for.”

“Aptos is built for real-world open finance applications, and Bitcoin is the linchpin between traditional and decentralized finance markets,” said Ash Pampati, Head of Ecosystem at Aptos Foundation.

“Having one of the first blockchains to support xBTC is a testament to the network’s high performance, security, and scalability. This opens up new avenues for liquidity and ecosystem growth, and gives developers the confidence and tools to seize them.”

“The launch of xBTC marks a significant milestone in Aptos’s rapidly evolving Bitcoin DeFi landscape and showcases the robustness of its BTCfi ecosystem,” added Christian Thompson, Managing Director at Sui.

Key Advantages of xBTC:

* Direct Integration: xBTC on Solana, Sui, and Aptos will enable seamless interoperability and efficient cross-chain asset transfer.

* Diverse Use Cases: xBTC unlocks a wide range of DeFi use cases, such as lending, borrowing, yield farming, and liquidity provision.

* Bitcoin Value Preservation: By maintaining exposure to Bitcoin’s value, users can continue to benefit from its long-term price appreciation.

* Efficient Transactions: Known for their speed and low-cost transactions, Solana, Sui, and Aptos will provide a smooth experience for DeFi participation.

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