Crypto exchange OKX has unveiled a new wrapped Bitcoin asset, xBTC, designed to boost cross-chain liquidity and cater to growing user demand for BTC-based products. This launch comes amid surging Bitcoin prices that have surpassed $111,000, according to the company’s announcement. xBTC boasts a 1:1 peg with Bitcoin, enabling seamless cross-chain deposits and withdrawals through Solana, Sui, and Aptos networks starting May 22. The asset will be fully managed by EURUSD and benefit from real-time transparency via its on-chain Proof of Reserve feature. Users can deposit and withdraw xBTC by logging into their OKX accounts, selecting the desired network, and transferring funds from external wallets.