BlockBeats News, May 22nd: According to official information, OKX officially launched the wrapped Bitcoin asset xBTC on May 22, 2025, and simultaneously opened deposit and withdrawal services for the Solana, Sui, and Aptos three major public chains. Through xBTC, users can seamlessly participate in the multi-chain DeFi ecosystem, supporting on-chain functions such as lending, liquidity mining, and further realizing the multi-chain circulation and revenue expansion of BTC. In addition, OKX Wallet will also successively launch income products related to xBTC, access the head DeFi protocols of the Solana, Sui, and Aptos ecosystems, enjoy additional ecosystem incentives, and users can easily participate in a one-stop manner. Please stay tuned.
It is reported that xBTC is a wrapped Bitcoin issued by OKX, strictly following a 1:1 reserve mechanism. Users can withdraw BTC from the exchange to the target chain to obtain an equivalent amount of xBTC; they can also recharge xBTC to the exchange through the target chain, exchanging it for BTC. The platform further ensures the security of user assets through on-chain Proof of Reserves (PoR) to verify asset transparency in real-time.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.