According to official news, OKX will officially launch the wrapped Bitcoin asset xBTC on May 22, 2025, and simultaneously open 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, further realizing BTC's multi-chain liquidity and revenue expansion. Additionally, OKX Wallet will successively launch revenue products around xBTC, accessing top DeFi protocols in Solana, Sui, Aptos, and other ecosystems, enjoying additional ecological incentives, allowing users to easily participate in a one-stop operation.
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, obtaining equivalent xBTC; they can also recharge xBTC on the target chain back to the exchange and convert it to BTC. The platform verifies asset transparency in real-time through on-chain reserve proof (Proof of Reserves, PoR), further ensuring user asset security.
