According to official sources, OKX officially launched the encapsulated Bitcoin asset xBTC on May 22, 2025, and simultaneously opened up deposit and withdrawal services for Solana, Sui, and Aptos public chains. Through xBTC, users can seamlessly participate in the multi chain DeFi ecosystem, supporting on chain functions such as lending and liquidity mining, further unlocking the multi chain liquidity and revenue expansion of BTC. In addition, OKX Wallet will gradually launch revenue products around xBTC, integrating top DeFi protocols such as Solana, Sui, Aptos, etc., to enjoy additional ecological incentives. Users can easily participate in one-stop operations. Please stay tuned.
It is reported that xBTC is a packaged Bitcoin issued by OKX, strictly following a 1:1 reserve mechanism. Users can withdraw BTC from the exchange to the target chain and receive an equivalent amount of xBTC; You can also recharge xBTC through the target chain and exchange it for BTC on the exchange. The platform verifies asset transparency in real-time through Proof of Reserves (PoR) on the chain, further ensuring the security of user assets.
For more details, please refer to the announcement: https://www.okx.com/zh-hans/help/okx-officially-launches-the-multi-chain-wrapped-token-xbtc
