OKX Rolls Out xBTC as Bitcoin Shatters Records at $111K—Just in Time for the Next Correction?
As Bitcoin hits a staggering $111K ATH, OKX unveils xBTC—because what the crypto world needs right now is another derivative product.
The timing? Impeccable. The utility? Debatable. The market’s appetite for leveraged Bitcoin exposure? Apparently insatiable.
Meanwhile, traditional finance bros are still trying to explain to their bosses why they didn’t buy at $20K. Again.
Price chart for bitcoin in the past few days, May 22, 2025 | Source: crypto.news
In order to deposit xBTC, users need to login to their OKX account and enter the deposit page. Then they WOULD need to select the asset BTC and choose one of the three supported networks, either Solana, Sui, or Aptos. Next, the user has to copy the deposit address and deposit xBTC from an external wallet.
After submitting the request and gaining the on-chain confirmation, xBTC will be automatically converted into BTC at a 1:1 ratio and transferred to the intended account. The same process applies to xBTC withdrawals that can be accessed through the withdrawal page.
Users can also earn rewards through the exchange’s xBTC “Learn and Earn” campaign. Traders can unlock Bitcoin staking activities and generate yields by taking part in a series of tasks provided by the campaign.
Additionally, OKX Wallet plans to launch an xBTC-based income product, which is connected to the Solana, Sui, and Aptos chains.
As previously reported, OKX recently unveiled its own self-custodial platform that enables gasless crypto payments dubbed OKX Pay. The platform was launched on April 28 and can be accessed through the crypto exchange’s app. It allows users to send USDT (USDT) and USDC (USDC) stablecoins without incurring fees.
