According to ChainCatcher, OKX officially launched the wrapped Bitcoin asset xBTC on May 22, 2025, and simultaneously opened deposit and withdrawal services for Solana, Sui, and Aptos. Through xBTC, users can seamlessly participate in multi-chain DeFi ecosystems, supporting lending, liquidity mining, and other on-chain functions to further expand BTC's cross-chain liquidity and earnings. Additionally, OKX Wallet will successively launch yield products around xBTC, accessing top DeFi protocols in Solana, Sui, and Aptos ecosystems, allowing users to enjoy additional ecosystem incentives through a one-stop operation.
It is understood 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 equivalent xBTC, or deposit xBTC back to the exchange and convert it to BTC. The platform uses on-chain Proof of Reserves (PoR) to verify asset transparency in real-time, further ensuring user asset security.
