(MENAFN- PR Newswire)

xBTC enables Aptos users to access wrapped Bitcoin backed 1:1 by OKX's BTC reserves, with no minting or redemption fees.

PALO ALTO, Calif., May 22, 2025 /PRNewswire/ -- Aptos Foundation , dedicated to supporting the development and ecosystem of the Aptos protocol, today announced OKX will launch xBTC on the Aptos network. xBTC is a wrapped version of Bitcoin that is fully backed 1:1 by BTC held in custody by OKX and available to use on Aptos starting May 22.

Aptos users will be able to mint xBTC on OKX and seamlessly deposit or withdraw it on the Aptos network for use across a wide range of Aptos-native DeFi applications, including trading, lending, and other Web3 strategies. A special campaign will be launched on OKX in partnership with Hyperion , Echo Protocol and Aries Markets on May 23 at 3pm (UTC +8). Deeper integrations across the ecosystem are expected to follow in the coming weeks.

"Delivering seamless usability and access to onchain use cases is core to what we've been building at OKX," said Jason Lau, Chief Innovation Officer at OKX . "By bringing xBTC to Aptos, we are keen to see Bitcoin holders put their BTC to work in fast, low-cost DeFi applications while enjoying the security and transparency they've come to expect from us."

"Aptos was built for real-world open finance applications, and Bitcoin is the linchpin between traditional and decentralized finance markets," said Ash Pampati, Head of Ecosystem at Aptos Foundation . "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."

Unlocking New Utility for Bitcoin and Aptos DeFi

Bitcoin remains the most trusted and dominant crypto asset, but it has been largely excluded from smart contract ecosystems. xBTC changes that by allowing BTC holders to interact with DeFi on Aptos: a low-latency, scalable Layer 1 built for billions of users. With 1:1 collateralization and verifiable custody through OKX's public proof-of-reserves platform, xBTC enhances Bitcoin's utility while maintaining transparency and user trust.

Aptos boasts a vibrant and thriving DeFi ecosystem with over $1 billion in total value locked (TVL). It is home to other BTC initiatives like aBTC (via Echo Protocol), which has nearly $270 million in TVL^[1], reflecting strong momentum behind wrapped BTC assets. Building on this foundation, xBTC is poised to unlock even greater liquidity, cross-chain interoperability, and seamless access to DeFi protocols across the Aptos ecosystem.

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About OKX
Trusted by more than 60 million customers around the globe, OKX is a technology company building a decentralized future that makes the world more tradable, transparent and connected. We're known for being one of the fastest and most reliable crypto apps in the world, and have processed trillions of dollars in transactions.

We have key regional offices, including headquarters in San José, California, for the Americas and in Dubai for the Middle East. We also have offices in New York, Hong Kong, Singapore, the Republic of Türkiye, Australia and Europe. Over the past several years, we've built one of the world's most comprehensive regulatory compliant, licensed crypto companies. We hold licenses in the United States, the UAE, EEA, Singapore and Australia, as well as in other markets.

We're steadfastly committed to transparency and security and publish Proof of Reserves reports on a monthly basis. To learn more about OKX, download our app or visit: okx .

About Aptos
Aptos is a high-performance proof-of-stake layer-one blockchain. Aptos' breakthrough technology, scalable infrastructure, and user safeguards are designed to power the next generation of financial systems by offering unparalleled high throughput and low latency that can scale to billions of users.

About Aptos Foundation
Aptos Foundation is dedicated to supporting the development and ecosystem of the Aptos protocol. By unlocking a blockchain with seamless usability, Aptos Foundation aims to bring the benefits of decentralization to the masses. For more information about Aptos Foundation and its initiatives, users can visit:

SOURCE Aptos Foundation

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