OKX, one of the world’s leading blockchain technology firms and crypto exchanges, has launched xBTC — a wrapped Bitcoin (BTC) token on the Aptos layer-1 blockchain. This move aims to expand Bitcoin-backed DeFi opportunities within the Aptos ecosystem by enabling users to mint, deposit, and withdraw xBTC without any minting or redemption fees.
Backed 1:1 by BTC held in OKX’s custody, xBTC allows Aptos users to utilize Bitcoin across various native DeFi applications, including lending and trading, unlocking new liquidity and cross-chain interoperability. With Aptos already boasting over $1 billion in total value locked (TVL) in DeFi, the introduction of xBTC is expected to accelerate ecosystem growth and drive further innovation.
Jason Lau, OKX’s Chief Innovation Officer, emphasized the platform’s commitment to providing seamless access to on-chain Bitcoin use cases, encouraging BTC holders to maximize their assets in fast, secure, and cost-efficient DeFi applications on Aptos.
