As Sui’s Bitcoin TVL soars and the number of BTCfi assets on Sui grows, OKX chooses the leading Layer 1 as a select launch partner for xBTC
Bitcoin holders have more options than ever on Sui. As BTC-backed assets continue to gain traction in Web3, Sui has one of the deepest benches of BTCfi infrastructure and asset options. And with OKX’s landmark xBTC asset—a new, exchange-native BTC asset from OKX—launching onchain today, the bench is getting even stronger.
Sui is part of a short-listed group of xBTC’s first three live chains, selected for its secure, high-speed, and scalable environment to simplify access to Bitcoin DeFi. xBTC can be minted directly on OKX Exchange and withdrawn into any onchain wallet, including the OKX Wallet, as a native asset on Sui. Cetus and Navi, two major Sui DeFi protocols, will serve as exclusive launch partners for the first batch of xBTC on Sui.
“At OKX, we’re always launching new features that drive onchain growth and support decentralized finance,” said Jason Lau, Chief Innovation Officer at OKX. “Our unique advantage as one of the most trustworthy and transparent institutions imbues xBTC with a powerful security model, and we’re excited to bring it to Sui’s vibrant Bitcoin finance ecosystem.”
The launch of xBTC opens up a broad set of reward strategies for users on Sui and provides a new liquidity rail backed by one of the world’s most trusted exchanges, reinforcing Sui’s position as the most BTCfi-diverse Layer 1 in crypto.
Sui’s BTCfi Momentum Continues
Since February, nearly 600 BTC have flowed into Sui thanks to the breadth of asset options and opportunities on Sui, marking its attraction to BTC holders looking for a secure chain to access DeFi. BTC-backed assets now make up more than 10% of Sui’s total value locked (TVL), and that number is growing fast.
xBTC adds to a growing arsenal of BTC-based assets that include WBTC, LBTC, and sBTC, each offering different models, integrations, and onchain benefits. These options range from fully decentralized custody to more familiar exchange-issued assets, and the entire spectrum is available on Sui.
“Bitcoin DeFi on Sui has gone from an intriguing concept to proving complete product-market fit in a matter of months,” said Christian Thompson, Managing Director at the Sui Foundation. “OKX choosing to bring xBTC to Sui speaks to the robustness of Sui’s BTCfi ecosystem, and it’s yet another example of giving Bitcoin holders the tools they need to participate meaningfully in DeFi on Sui.”
OKX and xBTC add to a cascade of recent key BTCfi integrations on Sui, which include Stacks, Lombard, Babylon, Cubist, SatLayer, RedStone, all making Sui the go-to home for putting Bitcoin to work.
Learn more about xBTC on Sui here.
About Sui
Sui is a first-of-its-kind Layer 1 blockchain and smart contract platform designed from the ground up to make digital asset ownership fast, private, secure, and accessible to everyone. Its object-centric model, based on the Move programming language, enables parallel execution, sub-second finality, and rich onchain assets. With horizontally scalable processing and storage, Sui supports a wide range of applications with unrivaled speed at low cost. Sui is a step-function advancement in blockchain and a platform on which creators and developers can build amazing user-friendly experiences. For more information about Sui, please visit https://sui.io
About OKX
Trusted by more than 60 million customers around the globe, OKX is a technology company building a decentralized future that makes the world more tradable, transparent and connected. We’re known for being one of the fastest and most reliable crypto apps in the world, and have processed trillions of dollars in transactions.
We have key regional offices, including headquarters in San José, California, for the Americas and in Dubai for the Middle East. We also have offices in New York, Hong Kong, Singapore, the Republic of Türkiye, Australia and Europe. Over the past several years, we’ve built one of the world’s most comprehensive regulatory compliant, licensed crypto companies. We hold licenses in the United States, the UAE, EEA, Singapore and Australia, as well as in other markets.
We’re steadfastly committed to transparency and security and publish Proof of Reserves reports on a monthly basis. To learn more about OKX, download our app or visit: okx.com.
What is xBTC?
xBTC is a 1:1 BTC-backed token fully collateralized by Bitcoin held in OKX’s secure reserves. Users can verify this backing through OKX’s transparent proof of reserves, ensuring complete collateralization. xBTC charges no minting or redemption fees—users only pay the minimal standard gas fees on the Sui network.
