OKX xBTC

xBTC is a wrapped token issued by OKX that strictly follows a 1:1 reserve mechanism

## Overview OKX xBTC is a wrapped Bitcoin token issued by the OKX exchange that enables Bitcoin holders to access decentralized finance (DeFi) applications and cross-chain ecosystems while maintaining exposure to Bitcoin's price. The token operates on a strict 1:1 reserve mechanism, meaning every xBTC token in circulation is backed by an equivalent amount of Bitcoin held in custody by OKX. This structure addresses a fundamental problem in crypto markets: Bitcoin's native blockchain has limited smart contract functionality and no native DeFi ecosystem, while wrapped versions allow Bitcoin to mo