OKX lit aptos DEFI on Thursday, launching XBTC, a fully guaranteed packaged version of Bitcoin, unlocked of interfers and chain without chain for the $ 1 billion ecosystem of the network.
Meet XBTC 👋 A 1: 1 token supported by Bitcoin and safely by OKX. XBTC unlocks a new alternative for BTC holders through, and. More to come – look at this space👇 – Okx (@okx)
Supported 1: 1 per BTC held in detention, XBTC allows users to access the liquidity of Bitcoin in the Aptos ecosystem without paying for striking or buyout fees.
From May 22, users can experience XBTC directly on OKX and transfer it through the Aptos blockchain for use in decentralized finance protocols (DEFI), including trading, loan and web3 strategies.
According to Jason Lau, director of innovation at OKX, this integration is part of the broader vision of the company aimed at extending the usefulness of the BTC through chain ecosystems.
“By bringing XBTC to Aptos, we can’t wait to see Bitcoin holders put their BTC working in low-cost challenge applications,” he said.
The displacement positions the Aptos as one of the first high performance layers 1 blocks to natively support XBTC, opening the way to a wider adoption of the DEFI products subject to a bitcoin.
The launch of XBTC reflects the commitment of the Aptos to unlock new liquidity pathways and to extend real financial use cases for digital assets.
“Bitcoin is the screen spin between the traditional and decentralized financial markets,” said Ash Pampati, responsible for the ecosystem of the Aptos Foundation, adding that Aptos for XBTC has its scalability and its architecture adapted to developers.
A launch campaign in collaboration with Aries Markets, Hyperion and Echo Protocol will lead more awareness and user engagement. These integrations are designed to create a dynamic for more in-depth use of XBTC on the Native Aptos DEFI platforms, offering developers the tools and confidence to innovate.
Although Bitcoin has long been the dominant crypto asset, its role in Defi has been limited due to a lack of indigenous intelligent contract support. With XBTC, Aptos users can now deploy BTC Capital on an increasing DEFI ecosystem which already has more than $ 1 billion of total locked value (TVL).
The ABTC of Echo Protocol has already attracted nearly $ 270 million on TVL, indicating a high demand for wrapped bitcoin solutions.
XBTC is distinguished by its transparency, taking advantage of the OKX public reserve public platform to provide verifiable support for each wrapped token.
This launch strengthens transverse interoperability and positions OKX and Aptos at the forefront of the Bitcoin Utility contribution to decentralized finance.
