OKX Launches xBTC on Solana, Sui & Aptos as Bitcoin Price Hits $111K

OKX is launching a wrapped version of BTC, xBTC, on Solana, Sui, and Aptos networks as the Bitcoin price has reached a new all-time high of $111k. Users across these platforms can now mint xBTC on OKX, unlocking new opportunities for trading, lending, and exploring Web3 strategies.

Notably, xBTC is a newly launched, 1:1 Bitcoin-pegged wrapped asset. As the exchange highlights, this innovation extends Bitcoin’s reach across multiple blockchains, fostering greater utility and interoperability. With the wrapped Bitcoin, BTC holders can tap into DeFi opportunities, generate yield, and maintain exposure to Bitcoin’s value.

OKX Launches xBTC on Solana, Aptos, and Sui

In an official blog post dated May 22, OKX, a top crypto exchange, has announced the launch of xBTC, a wrapped version of Bitcoin. As revealed by the platform, xBTC will go live on prominent blockchain platforms, including Solana, Aptos, and Sui. Both deposits and withdrawals of xBTC on these blockchain networks will be open from May 22, 2025, at 3:00 am UTC. The exchange noted,

With xBTC launching, deposit and withdrawal of BTC via Solana, Sui, and Aptos blockchains are available, bridging Bitcoin across chains for users to seamlessly participate in the multi-chain Web3 ecosystems, unlocking more possibilities for utilizing Bitcoin assets.

According to Jason Lau, Chief Innovation Officer at OKX, the company focuses on delivering seamless usability and access to on-chain use cases. He added that with the introduction of xBTC, the exchange aims to enable Bitcoin holders to utilize their BTC in fast and low-cost DeFi applications. This development comes following OKX’s decision to re-enter the US crypto market.

Commenting on this strategic launch, Ash Pampati, Head of Ecosystem at Aptos Foundation, cited,

Aptos was built for real-world open finance applications, and Bitcoin is the linchpin between traditional and decentralized finance markets. Being one of the first blockchains to support xBTC is a testament to the network’s high performance, security, and scalability. This opens up new avenues for liquidity and ecosystem growth, while giving developers the confidence and tools to seize them.

Meanwhile, Christian Thompson, Managing Director at Sui, stated that the launch highlights the network’s rapidly evolving Bitcoin DeFi landscape and demonstrates the robustness of its BTCfi ecosystem.

Why xBTC?

The crypto exchange highlights the key advantages of the wrapped Bitcoin token:

• Secure and Transparent: The wrapped Bitcoin boasts 1:1 BTC backing with real-time Proof of Reserves verification.
• Web3 Liquidity: The token’s integration with protocols allows on-chain activities like lending, liquidity mining, and more.
• Cross-chain Ease: The wrapped BTC facilitates frictionless transactions across multiple networks via OKX’s secure services.

OKX’s xBTC Launch Coincides with Bitcoin Price’s New ATH

Significantly, the crypto exchange’s xBTC launch coincides with the Bitcoin price’s latest rally that pushed it to a new ATH of $111,746. As of press time, BTC is valued at $111,039, still maintaining the positive momentum.

Over the past 24 hours, the token has seen a rise of 3.37%. At the same time, the Bitcoin price experienced a more notable surge over the past week and month, with a hike of 8% and 25%, respectively. This positive sentiment is further highly reflected in the 24-hour trading volume, which increased by a massive 77% to $90.92 billion.