Hyperlane announced the launch of Nexus Bridge, which will enable users to transfer Wrapped Bitcoin (WBTC) between Ethereum and Solana, creating a major pathway for the entry of tokenized bitcoin assets into the Solana ecosystem.
- *WBTC:* The first ERC-20 token backed 1:1 by bitcoin, remaining the largest tokenized bitcoin product with a market value of around 8 billion dollars.
- *Support:* The asset is backed by bitcoin reserves held at BitGo and BiT Global.
- *Controversy:* WBTC was scrutinized in 2024 after BitGo adopted a multi-faceted custody model with BiT Global, a company linked to Justin Sun, leading some projects to distance themselves from the token.
Hyperlane stated that the new bridge is designed to provide secure and permissionless cross-chain access to bitcoin-backed liquidity.
WBTC
66,297.52
-0.82%
ETHUSDT
Perp
1,938.31
-1.53%
SOLUSDT
Perp
78.69
-2.15%