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Wrapped Bitcoin
Wrapped Bitcoin

BitGo› offers Wrapped Bitcoin

ProductOperating Status: Currently Offered

Wrapped Bitcoin is a Bitcoin-backed token used to represent bitcoin on other blockchain networks.

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Overview

Wrapped Bitcoin represents bitcoin one-to-one on blockchains other than Bitcoin, so holders can use bitcoin in applications that do not run on the Bitcoin network. Tokens are issued and redeemed through custodians that hold the underlying bitcoin, and the asset is used as collateral and for trading across decentralised-finance venues.

Supply is created when a merchant or custodian deposits bitcoin and mints the corresponding tokens, and reduced when tokens are returned and the bitcoin redeemed. Governance of the asset is shared among the merchants and custodians involved. Availability depends on the networks it is issued on and on the custodians continuing to support issuance and redemption.

Wrapped Bitcoin - Classification

Technology
  • Crypto
Tags
  • Blockchain

More from BitGo

  • BitGo Wallet Services logo

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  • BitGo API logo

    BitGo API

  • Qualified Custody logo

    Qualified Custody

Wrapped Bitcoin - Direct Competitors

  • Stacks

    Stacks logo

    sBTC

    stacks.co

AttributeWrapped BitcoinsBTC
ProviderBitGobitgo.com384.3M raised · PublicStacksstacks.co93.9M raised · Series B
Founded20132013
Sells ToFinancial InstitutionsDevelopers
Pricing ModelTransaction Fees—
OwnershipPublicNonprofit
Wrapped Bitcoin

Provider BitGobitgo.com384.3M raised · Public

Founded 2013

Sells To Financial Institutions

Pricing Model Transaction Fees

Ownership Public

sBTC

Provider Stacksstacks.co93.9M raised · Series B

Founded 2013

Sells To Developers

Pricing Model —

Ownership Nonprofit

Wrapped Bitcoin - Similar Products & Services

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    Bitcoin Staking

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