OKX Unveils xBTC as Bitcoin Soars to $111k: A New Era for Institutional Crypto Demand

OKX, a top-tier cryptocurrency exchange, has launched xBTC, a Wrapped Bitcoin token pegged 1:1 to BTC’s value, coinciding with Bitcoin’s historic surge to $111,000. This milestone underscores the growing institutional appetite for Bitcoin-based products. xBTC is set to debut on May 22 with cross-chain support for Solana, Sui, and Aptos, backed by verifiable on-chain Proof of Reserves in EURUSD. The move highlights OKX’s commitment to innovation and transparency in the crypto space.

OKX Launches xBTC as Bitcoin Hits Record $111k

OKX, a leading cryptocurrency exchange, has unveiled xBTC, a wrapped Bitcoin token pegged 1:1 to BTC’s value. The launch coincides with Bitcoin’s surge to a historic high of $111,000, reflecting growing institutional demand for Bitcoin-based products.

xBTC will debut on May 22 with support for Solana, Sui, and Aptos blockchains. The token’s reserves are fully backed by EURUSD and verifiable via on-chain Proof of Reserve. This move aims to enhance cross-chain liquidity for Bitcoin while capitalizing on the expanding market for yield-generating crypto instruments.

Bitcoin Price Surges Past $111K as OKX Rolls Out xBTC on Solana, Aptos, and Sui

Bitcoin shattered its all-time high, breaching the $111,000 threshold as OKX unveiled xBTC—a wrapped bitcoin token—across Solana, Aptos, and Sui blockchains. The 1:1 BTC-backed asset enables frictionless DeFi access without minting or burning fees, launching amid a 77% spike in Bitcoin trading volume and $81 billion in futures open interest.

OKX’s custodial reserves guarantee xBTC’s peg integrity, positioning it as a gateway to high-throughput DeFi ecosystems. The exchange’s strategic rollout coincides with Bitcoin’s historic price momentum, reflecting growing institutional demand for cross-chain Bitcoin utility.