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cryptonews 2025-05-22 16:16:44

OKX Unleashes xBTC on Aptos – 1:1 Wrapped Bitcoin Flows Fee-Free Into DeFi

OKX Unleashes xBTC on Aptos – 1:1 Wrapped Bitcoin Flows Fee-Free Into DeFi

OKX ignited Aptos DeFi on Thursday, launching xBTC, a fully collateralized wrapped version of Bitcoin, unlocking fee-free, cross-chain liquidity for the network’s $1 billion ecosystem. Meet xBTC A token 1:1 backed by Bitcoin and securely held by OKX. xBTC unlocks a new alternative for BTC holders across @Solana , @SuiNetwork , and @Aptos . More to come – watch this space — OKX (@okx) May 22, 2025 Backed 1:1 by BTC held in OKX custody, xBTC allows users to access Bitcoin liquidity within the Aptos ecosystem without paying minting or redemption fees. Starting May 22, users can mint xBTC directly on OKX and transfer it across the Aptos blockchain for use in decentralized finance (DeFi) protocols, including trading, lending, and Web3 strategies. According to Jason Lau, Chief Innovation Officer at OKX, this integration is part of the company’s broader vision to expand BTC’s utility across on-chain ecosystems. “By bringing xBTC to Aptos, we are keen to see Bitcoin holders put their BTC to work in fast, low-cost DeFi applications,” he said. The move positions Aptos as one of the first high-performance Layer 1 blockchains to natively support xBTC, paving the way for wider adoption of Bitcoin-backed DeFi products. Empowering DeFi Innovation on Aptos The launch of xBTC reflects Aptos’ commitment to unlocking new liquidity pathways and expanding real-world financial use cases for digital assets. “Bitcoin is the linchpin between traditional and decentralized finance markets,” said Ash Pampati, head of ecosystem at the Aptos Foundation, adding that Aptos’ support for xBTC showcases its scalability and developer-friendly architecture. A launch campaign in collaboration with Aries Markets, Hyperion, and Echo Protocol will further drive awareness and user engagement. These integrations are designed to build momentum for deeper use of xBTC across Aptos-native DeFi platforms, providing developers with the tools and confidence to innovate. Increasing Liquidity and Utility for BTC Holders While Bitcoin has long been the dominant crypto asset, its role in DeFi has been limited due to a lack of native smart contract support. With xBTC, Aptos users can now deploy BTC capital across a growing DeFi ecosystem that already boasts over $1 billion in total value locked (TVL). Echo Protocol’s aBTC has already attracted nearly $270 million in TVL, indicating strong demand for wrapped Bitcoin solutions. xBTC stands out for its transparency, leveraging OKX’s public proof-of-reserves platform to provide verifiable backing for each wrapped token. This launch strengthens cross-chain interoperability and positions both OKX and Aptos at the forefront of bringing Bitcoin utility to decentralized finance. The post OKX Unleashes xBTC on Aptos – 1:1 Wrapped Bitcoin Flows Fee-Free Into DeFi appeared first on Cryptonews .

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