As Bitcoin breaches a historic milestone by topping $111,000, crypto exchange giant OKX is capitalizing on the momentum by unveiling xBTC, a wrapped version of Bitcoin, now available on Solana, Aptos, and Sui. The launch of xBTC marks a major stride toward expanding Bitcoin’s reach in the decentralized finance (DeFi) world.
From May 22, 2025, at 3:00 am UTC, users can mint, deposit, and withdraw xBTC across these high-speed, low-cost blockchains. This move signals OKX’s deeper commitment to cross-chain innovation and aims to empower Bitcoin holders to do more with their assets beyond simple holding.
What is xBTC, and Why Does It Matter?
Wrapped tokens aren’t new, but xBTC comes at a time when demand for interoperability and DeFi access is stronger than ever. Backed 1:1 by real Bitcoin, xBTC serves as a gateway for BTC holders to enter emerging ecosystems like Solana’s fast-paced DeFi landscape, Aptos’ scalable network, and Sui’s rapidly growing BTCfi applications.
OKX states that xBTC will allow users to engage in on-chain lending, yield generation, and other DeFi activities while keeping full exposure to Bitcoin’s price movements. It’s a key offering for those looking to use their BTC in dynamic ways — without leaving its value behind.
Jason Lau, OKX’s Chief Innovation Officer, emphasized that this move is part of the exchange’s broader vision: “We want Bitcoin holders to actively participate in the evolving Web3 world without being restricted by legacy network limitations. xBTC unlocks that potential.”
A Multi-Chain Approach to a Bitcoin Future
The inclusion of three different chains in xBTC’s debut is a strategic decision. OKX clearly isn’t content to support just one ecosystem — they’re betting on cross-chain liquidity and the future of multi-network interoperability.
Ash Pampati, Head of Ecosystem at the Aptos Foundation, noted how crucial this is for connecting traditional finance with decentralized platforms. “Bitcoin is that bridge,” he said, calling Aptos’ support for xBTC a nod to the chain’s scalability and security.
Likewise, Christian Thompson from Sui shared that the xBTC launch is another sign of how far their BTC-focused DeFi ecosystem — dubbed BTCfi — has come in such a short time.
The expansion into Solana, Sui, and Aptos ensures Bitcoin is no longer siloed on its own blockchain but can now actively power applications in broader DeFi ecosystems.
Why xBTC Could Be a Game Changer
According to OKX, xBTC is more than just another wrapped asset. It brings with it several standout features:
- Full Transparency: Each xBTC is backed 1:1 with real BTC, and users can verify this through real-time Proof of Reserves.
- DeFi Enablement: It allows users to engage in lending, staking, liquidity mining, and other Web3 activities.
- Cross-Chain Utility: With OKX’s infrastructure, users can move xBTC seamlessly between blockchains, leveraging the best of each.
These features collectively ensure xBTC isn’t just a speculative token — it’s a utility asset designed to extend the power of Bitcoin across Web3.
Launch Timing Matches Bitcoin’s Meteoric Rise
It’s no coincidence that xBTC’s launch is timed with Bitcoin’s new all-time high. The leading cryptocurrency has surged to $111,746, fueled by bullish sentiment and heavy institutional interest. At the time of writing, BTC is trading at $111,039, still riding strong on the back of a 3.37% daily gain.
Over the past week, Bitcoin has surged nearly 8%, with a remarkable 25% monthly gain, indicating sustained investor confidence. This spike is reflected in a 77% jump in 24-hour trading volume, which now sits at a whopping $90.92 billion.
With xBTC now live, OKX has cleverly positioned itself at the intersection of this momentum, offering users a new way to leverage their Bitcoin across ecosystems that are built for speed, flexibility, and innovation.
