OKX Launches xBTC for Multi-Chain DeFi Yield Farming

OKX, a prominent cryptocurrency exchange, has announced the listing of its wrapped Bitcoin asset, xBTC, on May 22, 2025. This move is aimed at enhancing cross-chain interoperability and facilitating decentralized finance (DeFi) yield farming. The launch includes the opening of deposit and withdrawal services for three major public chains: Solana, Sui, and Aptos. This initiative allows users to seamlessly participate in the multi-chain DeFi ecosystem, supporting various on-chain functions such as lending and liquidity mining, thereby enabling the multi-chain circulation and revenue expansion of BTC.

xBTC is a wrapped Bitcoin issued by OKX, adhering to a strict 1:1 reserve mechanism. Users can withdraw BTC from the exchange to the target chain to obtain an equivalent amount of xBTC, and vice versa. The platform ensures the security of user assets through on-chain Proof of Reserves (PoR), which verifies asset transparency in real-time. This mechanism provides users with the confidence that their assets are securely backed by the equivalent amount of BTC.

In addition to the listing of xBTC, OKX Wallet will also introduce income products related to xBTC. These products will integrate with leading DeFi protocols within the Solana, Sui, and Aptos ecosystems, offering users additional ecosystem incentives. This one-stop approach allows users to easily participate in DeFi activities, further enhancing the utility and value of xBTC within the broader cryptocurrency landscape.

The launch of xBTC by OKX represents a significant step towards improving cross-chain interoperability and expanding the use cases of Bitcoin within the DeFi ecosystem. By enabling seamless participation in multi-chain DeFi activities, OKX aims to provide users with more opportunities to generate yield and maximize the potential of their BTC holdings. The integration of xBTC with leading DeFi protocols and the provision of additional ecosystem incentives further enhance the attractiveness of this wrapped asset, positioning it as a valuable tool for DeFi enthusiasts and investors alike.