OKX has unveiled xBTC, a wrapped version of Bitcoin designed to enhance BTC’s utility across decentralized finance (DeFi) ecosystems.
Each xBTC token is fully backed 1:1 by actual Bitcoin held in secure custody by OKX, ensuring that digital representation mirrors value of its underlying asset.
This launch marks a significant step in making Bitcoin more versatile within blockchain environments that support smart contracts, particularly Solana, Sui, and Aptos—three high-performance, non-EVM chains known for speed and scalability.
Wrapped xBTC Lets Bitcoin Holders Tap Into Lending, Staking, and Yield Farming
xBTC enables Bitcoin holders to engage with DeFi platforms—such as lending, staking, trading, and yield farming—on chains that Bitcoin natively cannot operate on.
By wrapping BTC into a tokenized form compatible with these networks, OKX is providing a bridge between Bitcoin’s robust store-of-value reputation and the evolving DeFi space.
This strategic integration also reflects growing demand for cross-chain solutions that connect Bitcoin with broader crypto ecosystems.
OKX’s xBTC gives users the flexibility to maintain exposure to Bitcoin while participating in emerging DeFi opportunities on newer, faster blockchains.
It’s part of a larger trend to unlock Bitcoin liquidity and make it a more active asset beyond traditional holding or centralized exchange trading.
Also Read: OKX to Launch Private Keyless Pay Wallet, Targeting One Billion Crypto Users
How Will The New Service Function?
When users deposit Bitcoin (BTC) with OKX, the platform mints an equivalent amount of xBTC on supported blockchains like Solana, Sui, and Aptos.
The original BTC is securely held in custody by OKX, ensuring 1:1 backing for every xBTC issued. This wrapped version of Bitcoin allows users to access decentralized finance (DeFi) opportunities that native BTC can’t interact with directly.
With xBTC, holders can lend, trade, or stake their assets on-chain via decentralized exchanges (DEXs) and other DeFi platforms.
This process unlocks the liquidity of Bitcoin, enabling it to be used more flexibly within multi-chain ecosystems—without sacrificing ownership or needing to sell the original asset.
Also Read: OKX Launches New Crypto Exchange & Wallet With Advanced Trading Tools In The US
OKX Maintains Live Proof-of-Reserves to Ensure xBTC’s 1:1 Bitcoin Backing
OKX ensures transparency for xBTC by maintaining a live proof-of-reserves system, allowing users to verify in real time that each xBTC is fully backed 1:1 by real Bitcoin held in cold storage.
This setup is designed to prevent trust issues and avoid the pitfalls seen in past wrapped token failures.
The clear, on-chain transparency gives users confidence that their assets are secure and fully collateralized. At launch, xBTC is available on Solana, Sui, and Aptos—three fast, low-fee blockchains with expanding DeFi ecosystems.
This makes it easier for users to utilize their Bitcoin across diverse platforms. OKX also plans to bring xBTC to more networks in the future, further increasing Bitcoin’s utility in decentralized finance.
Also Read: OKX Launches New Wallet App Packed With Multi-Chain Features