- OKX’s xBTC debut on multiple blockchains.
- Bitcoin price hits $111K.
- Enhancement of Bitcoin’s DeFi utility.
OKX launched xBTC, a Bitcoin-backed token, on May 22, 2025, across Solana, Sui, and Aptos, coinciding with Bitcoin reaching $111,000.
Introduction of xBTC
OKX has officially released xBTC, a token backed 1:1 by Bitcoin, facilitating usage in DeFi across Solana, Sui, and Aptos. The launch occurred amid Bitcoin’s price reaching a new milestone.
Key players in this launch include Jason Lau of OKX, Ash Pampati from Aptos Foundation, and Christian Thompson from Sui, who underscored xBTC’s potential to increase utility and interoperability of Bitcoin.
Jason Lau, Chief Innovation Officer, OKX, emphasized their commitment to user experience, stating, “Delivering seamless usability and access to onchain use cases is core to what we’ve been building 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.”
Bitcoin holders can now participate in DeFi applications with reduced fees and faster transactions on these platforms. The new token provides an innovative bridge for integrating traditional financial systems with blockchain technology.
Financially, the xBTC introduction offers incentives to users, coinciding with a marketing campaign with partners such as Hyperion. Anticipated is an increase in Bitcoin’s usability in decentralized finance ecosystems.
As these new dynamics unfold, potential outcomes include expanded cross-chain commerce and acceleration of Bitcoin’s adoption beyond the primary blockchain. Anticipation surrounds deeper integration within these ecosystems, aligning with existing trends and technological advancements.
