- OKX launched xBTC, a wrapped Bitcoin token, on Solana, Sui, and Aptos to enable faster, cheaper DeFi use of BTC.
- This launch comes as Bitcoin’s price hits a new high of about $111,000.
OKX, has unveiled xBTC—a 1:1 wrapped Bitcoin token—on three major blockchain platforms: Solana, Sui, and Aptos. This strategic launch comes amid Bitcoin’s recent rally, which pushed its price to an all-time high of around $111,000. By introducing xBTC, OKX aims to expand Bitcoin’s utility in decentralized finance (DeFi) and multi-chain ecosystems, offering users faster and more cost-effective ways to leverage their BTC holdings.
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xBTC: Bridging Bitcoin Across Multiple Blockchains
Launched May 22, 2025, xBTC is a 1:1 wrapped Bitcoin enabling DeFi access without selling original BTC. Users can deposit and withdraw xBTC on Solana, Sui, and Aptos networks through OKX starting from 3:00 am UTC. This new asset effectively bridges Bitcoin across different blockchains, enhancing interoperability and enabling seamless participation in Web3 financial activities such as trading, lending, and yield farming.
Jason Lau, Chief Innovation Officer at OKX, explained that the wrapped Bitcoin aims to provide “fast and low-cost DeFi applications” for Bitcoin holders, aligning with OKX’s broader vision of integrating traditional cryptocurrency assets into emerging decentralized ecosystems. This launch also marks a significant milestone following OKX’s re-entry into the U.S. crypto market, signaling renewed expansion efforts.
Blockchain Leaders Endorse xBTC’s Potential
Leaders from the supported blockchains highlighted the importance of this launch. Ash Pampati, Head of Ecosystem at Aptos Foundation, noted that Aptos’s architecture is designed for real-world open finance, and xBTC’s integration underscores the blockchain’s high performance, security, and scalability. He views xBTC as a bridge between traditional finance and decentralized markets, opening new liquidity avenues and encouraging ecosystem growth.
Christian Thompson, Managing Director at Sui, emphasized that xBTC enhances the network’s growing Bitcoin DeFi landscape, reinforcing the robustness of its BTCfi ecosystem. These endorsements reflect confidence in the wrapped token’s ability to unlock fresh use cases for Bitcoin within next-generation blockchain platforms.
Why xBTC Matters for Crypto Users
OKX highlights several key benefits of xBTC:
- Secure and Transparent: Each xBTC token is backed 1:1 by Bitcoin, with real-time proof of reserves ensuring trustworthiness.
- Enhanced Web3 Liquidity: xBTC enables on-chain activities like lending, liquidity mining, and more, boosting Bitcoin’s utility beyond simple holding.
- Cross-Chain Functionality: With OKX’s secure services, users can transact Bitcoin across multiple blockchains effortlessly, breaking down barriers in DeFi.
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Launch Timed with Bitcoin’s New All-Time High
The debut of xBTC coincides with a major Bitcoin price milestone. Bitcoin recently hit a new high of $111,746, with an 8% increase over the past week and a 25% gain over the month. Meanwhile, trading volume surged 77% to nearly $91 billion in 24 hours, signaling strong market activity.
OKX wraps Bitcoin for use on Solana, Sui, and Aptos, boosting BTC’s DeFi presence. This strengthens multi-chain access amid strong market performance.
OKX’s xBTC launch could be a game-changer for Bitcoin holders looking to explore innovative DeFi strategies without relinquishing exposure to BTC’s value, marking an important step towards a more interconnected crypto ecosystem.
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