As Bitcoin TVL soars on Sui, BTCfi assets are becoming increasingly abundant, and OKX has chosen Sui, a leading Layer 1, as one of the first partners to launch xBTC.
On Sui, Bitcoin holders have unprecedented choices. As BTC-supported assets gain popularity in Web3, Sui is building the most comprehensive BTCfi infrastructure and asset matrix. Today, OKX's flagship asset xBTC—a BTC asset natively issued by OKX—officially launches, further enhancing the asset matrix.
Sui is one of the three major public chains to support the initial launch of xBTC, simplifying user access to Bitcoin DeFi with its secure, high-speed, and scalable environment. xBTC can be minted directly on the OKX exchange and withdrawn as a native asset to any chain wallet, including the OKX wallet. The two mainstream DeFi protocols in the Sui ecosystem, Cetus and Navi, will serve as exclusive partners for the initial launch of xBTC.
OKX Chief Innovation Officer Jason Lau stated, “At OKX, we continuously launch new features that drive on-chain growth and support decentralized finance. As one of the most trusted and transparent institutions, we are injecting a robust security model into xBTC and are very pleased to introduce it into Sui's thriving Bitcoin financial ecosystem.”
The launch of xBTC opens a range of rich yield strategy channels for Sui users and introduces a new type of liquidity channel supported by one of the world's most trusted exchanges, further solidifying Sui's position as the most diverse Layer 1 for BTCfi.
Sui's BTCfi growth momentum remains strong
Since February, nearly 600 BTC have flowed into Sui, making it the preferred choice for BTC holders seeking a secure on-chain DeFi entry, thanks to Sui's rich asset options and DeFi opportunities. BTC-supported assets now account for over 10% of Sui's total locked value (TVL), and this number is rapidly growing.
The addition of xBTC strengthens Sui's BTC asset lineup, which now includes WBTC, LBTC, and sBTC, each offering different models, integration methods, and on-chain advantages. These options range from fully decentralized custody to exchange-issued assets familiar to users, covering the entire usage scenario, all available on Sui.
Christian Thompson, head of the Sui Foundation, stated, “Bitcoin DeFi on Sui has validated a strong product-market fit from an interesting concept to reality in just a few months. OKX's decision to bring xBTC to Sui underscores the robustness of the Sui BTCfi ecosystem, marking another important milestone for BTC holders to engage deeply in DeFi on Sui.”
The addition of OKX and xBTC is just one of several key BTCfi integration projects on Sui recently, which also include Stacks, Lombard, Babylon, Cubist, SatLayer, and RedStone—all working together to make Sui the preferred platform for realizing the value of Bitcoin assets.
Learn more about xBTC on Sui: Click here
About Sui
Sui is the first Layer 1 blockchain and smart contract platform built for digital asset ownership, featuring speed, privacy, security, and accessibility. Its object-oriented model based on the Move programming language supports parallel execution, sub-second finality, and a rich array of on-chain assets. Sui offers horizontally scalable computing and storage capabilities, providing unparalleled speed support for various applications at extremely low costs, representing a leap forward for blockchain and an ideal platform for developers and creators to build user-friendly experiences. For more information, visit: https://sui.io
About OKX
OKX is a global leading technology company, trusted by over 60 million users worldwide, dedicated to building a decentralized future that enhances liquidity, transparency, and connectivity. As one of the fastest and most reliable crypto applications globally, OKX has processed trillions of dollars in transaction volume.
OKX has offices in several key regions worldwide, including its Americas headquarters in San Jose, USA, and its Middle East headquarters in Dubai, as well as locations in New York, Hong Kong, Singapore, Turkey, Australia, and Europe. OKX has obtained compliance licenses in multiple countries and regions, including the USA, UAE, EEA, Singapore, and Australia, building one of the most comprehensive compliant crypto platforms globally.
OKX is committed to transparency and security, releasing reserve proof reports monthly. To learn more, download the OKX App or visit: okx.com
What is xBTC?
xBTC is a 1:1 Bitcoin-backed token, fully collateralized by BTC assets in OKX's secure reserves. Users can verify the collateral status of this asset through OKX's transparent reserve proof, ensuring it is fully backed. Minting and redeeming xBTC incurs no fees, only the standard gas fee for the Sui network.
Contact: media@sui.io
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