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BitGo has announced that Wrapped Bitcoin (WBTC) will migrate from LayerZero infrastructure to Chainlink's Cross-Chain Interoperability Protocol (CCIP). Once completed, the total value of projects that have opted to replace LayerZero with Chainlink will approach $15 billion.
According to the company, Chainlink CCIP will become the primary cross-chain infrastructure for WBTC, while future BitGo digital assets will be issued using the Cross-Chain Token (CCT) standard.
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BitGo's decision follows a broader migration trend that began after the $292 million exploit of Kelp DAO's LayerZero-powered bridge. Following the incident, several projects announced plans to adopt Chainlink CCIP instead.
Those projects include Mantle, Kelp, Lombard, Solv Protocol, Virtuals, Re, and Kraken.
WBTC currently has a market capitalization of approximately $7.4 billion. Combined with previously announced migrations, the total value of assets moving from LayerZero to Chainlink will reach roughly $14.6 billion.
BitGo to retain control over WBTC
The company said the Cross-Chain Token standard allows BitGo to maintain full control over WBTC smart contracts while independently managing transfer limits and other cross-chain parameters.
Notably, BitGo selected LayerZero in 2024 to expand WBTC across multiple blockchains, including Avalanche and BNB Chain. The company has now decided to make Chainlink CCIP its standard infrastructure for future cross-chain token deployments.
The migration continues BitGo's broader strategy of expanding its institutional infrastructure.
On Aug. 3, the company introduced Link, a platform that enables institutional clients to manage assets held in BitGo custody and connected centralized exchanges through a unified interface.
Earlier, the number of active wallets on the Chainlink network reached a record 900,000, despite the decline in the price of the LINK token. Analysts said the increase in network activity reflected continued interest from users and developers despite weak price performance.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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