24/7 Cryptocurrency News

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

Published by

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.

Advertisement

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.

Advertisement

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.
Advertisement

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.

Advertisement

Share
Nynu V Jamal

Nynu V Jamal is a Senior Journalist at CoinGape. She boasts more than 3 years of experience in content writing, with expertise in crypto and blockchain. She has contributed to platforms like CoinEdition and CryptoTale, demonstrating her proficiency in navigating the dynamic crypto landscape. Beyond her journalistic pursuits, Nynu is a literary enthusiast, having served as an Assistant Professor of English Language and Literature. She is a Master's degree holder in English Literature and a UGC NET qualifier. Her academic background has enabled her to publish research papers on literature, while also nurturing her creative side as a published poet. Her creative side extends to music, crafts, and art, which she actively explores. Her unique blend of analytical and creative skills allows her to craft engaging stories that captivate audiences. Stay updated with Nynu on LinkedIn

Published by

Recent Posts

  • Ethereum News

Tom Lee’s Bitmine Immersion (BMNR) Adds Another $103M ETH to its Ethereum Stash

Bitmine Immersion, the largest Ethereum treasury company, quietly added another 23,823 ETH to its total…

October 10, 2025
  • Bitcoin News

Bitcoin Price Flashes Top Signal After Rejection At $125K

Bitcoin price has continued to trade below the $125,000 mark as the market undergoes a…

October 10, 2025
  • 24/7 Cryptocurrency News

Breaking: Grayscale Solana ETF (GSOL) to Trade with 0.35% Fee

With the U.S. Securities and Exchange Commission's (SEC) final decision on Grayscale Solana ETF (GSOL)…

October 10, 2025
  • 24/7 Cryptocurrency News

Roger Ver, ‘Bitcoin Jesus,’ Settles $48M Tax Fraud Case with U.S. DOJ

Roger Ver, widely known in the crypto world as “Bitcoin Jesus,” has reached a settlement…

October 10, 2025
  • 24/7 Cryptocurrency News

Senate Democrats’ New DeFi Regulation Proposal Stalls Crypto Market Structure Talks

Senate Democrats have proposed new regulations for decentralized finance (DeFi) that they want to include…

October 10, 2025
  • 24/7 Cryptocurrency News

Zcash (ZEC) Extends Rally Above $200 as Privacy Narrative Gains Reflexive Momentum

Zcash (ZEC) now trades above $200. The rally reflects a reflexive surge in investor belief,…

October 10, 2025