On Sui, Bitcoin holders have more options than ever before. As BTC-backed assets become increasingly popular in Web3, Sui is building the most comprehensive BTCfiInfrastructure and asset matrix. OKXOKX’s blockbuster asset xBTC—a BTC asset natively issued by OKX—is officially launched today, further enhancing the asset matrix.

Sui is one of the first three public chains supported by xBTC.Safety, high-speed and scalable environment, simplifying the path for users to access Bitcoin DeFi. xBTC can be minted directly on the OKX exchange and withdrawn as a native asset to any on-chain wallet, including the OKX wallet. Two major DeFi protocols in the Sui ecosystem Cetusand NaviWe will be the exclusive partner for the first launch of xBTC.

OKX 首席创新官 Jason Lau 表示：“在 OKX，我们不断推出推动链上增长的新功能，支持去中心化金融。作为最值得信赖和最透明的机构之一，我们为 xBTC 注入强大的安全模型，并非常高兴将其引入 Sui 蓬勃发展的比特币金融生态中。”

The launch of xBTC opens up a rich set of yield strategy channels for Sui users, and also introduces a new liquidity channel to the chain supported by one of the world’s most trusted exchanges, further consolidating Sui’s position as the most diverse Layer1 of BTCfi.

Sui's BTCfi continues to grow strongly

Since February, nearly 600 BTC have flowed into Sui. Thanks to Sui's rich asset selection and DeFi opportunities, Sui has become the first choice for BTC holders looking for a secure on-chain DeFi entry. BTC-backed assets now account for more than 10% of Sui's total locked volume (TVL), and this number is growing rapidly.

The addition of xBTC makes Sui’s BTC asset lineup even stronger, which currently includes WBTC, LBTC and sBTC, each offering different models, integration methods and on-chain advantages. These options range from fully decentralized custody to user-familiar exchange-issued assets, covering the entire use case and are all available on Sui.

Christian Thompson, head of Sui Foundation, said: “Bitcoin DeFi on Sui has gone from an interesting idea to a highly compatible product and market in just a few months. OKX’s choice to introduce xBTC to Sui fully demonstrates the robustness of Sui’s BTCfi ecosystem. This is also another important milestone for BTC holders to deeply participate in DeFi on Sui.”

The addition of OKX and xBTC is just one of several key BTCfi integration projects on Sui in recent times, including Stacks,Lombard,Babylon,Cubist,SatLayerand RedStone——These are jointly pushing Sui to become the preferred platform for Bitcoin assets to realize their value.

👉 Learn more about xBTC on Sui:click here

About Sui

Sui is the first Layer 1 blockchain built for digital asset ownership BlockchainSui is a fast, private, secure and accessible smart contract platform. Its object-oriented model based on the Move programming language supports parallel execution, sub-second finality and rich on-chain assets. Sui has horizontally scalable computing and storage capabilities, providing unparalleled speed support for various applications at extremely low cost.BlockchainIt is a great leap forward for developers and creators to build a friendly user experience. For more information, please visit:https://sui.io

About OKX

OKX is a leading global technology company with over 60 million users around the world trusting it to build a decentralized future and make the world more liquid, transparent and connected. As one of the fastest and most reliable crypto applications in the world, OKX has processed trillions of dollars in trading volume.

OKX has offices in many important regions around the world, including the Americas headquarters in San Jose, the United States, the Middle East headquarters in Dubai, as well as New York, Hong Kong, Singapore, Turkey, Australia and Europe. OKX has currently obtained compliance licenses in many countries and regions including the United States, the United Arab Emirates, the European Economic Area, Singapore, Australia, etc., and has built one of the most comprehensive compliance encryption platforms in the world.

OKX always adheres to transparency and security and publishes reserve proof reports every month. To learn more, please download the OKX App or visit:okx.com

What is xBTC?

xBTC is a 1:1 Bitcoin-backed token fully backed by BTC assets in OKX's security reserve. Users can verify the collateral status of the asset through OKX's transparent reserve proof to ensure that it is fully reserved. There is no handling fee for minting and redeeming xBTC, and only the standard gas fee of the Sui network needs to be paid.

📧 Contact: media@sui.io

The article comes from the Internet:OKX launches xBTC on Sui to promote the development of Bitcoin DeFi ecosystem