Wrapped Bitcoin

Wrapped Bitcoin (WBTC) is a digital asset that represents Bitcoin (BTC) on other blockchain networks, like Ethereum. It allows Bitcoin holders to use their assets within decentralized applications, such as decentralized finance (DeFi) platforms, without converting or selling their Bitcoin. Each WBTC is backed 1:1 by actual Bitcoin held in reserve, ensuring its value remains tied to Bitcoin. This wrapping process enables Bitcoin’s value to be utilized in the more programmable, smart contract-enabled Ethereum ecosystem, expanding its functionality while maintaining its original value and security.