Original source: BOB

September 30 - BOB (Build on Bitcoin) officially announced the launch of the first trustless one-click native Bitcoin cross-chain channel, connecting native Bitcoin with 11 chains supported by LayerZero, featuring institution-grade wrapped Bitcoin (wBTC) issued by BitGo.

This seamless interoperability system allows users to easily access native BTC through wBTC.OFT, while the BOB Gateway SDK covers nearly 15,000 Dapps across 11 mainstream chains including Ethereum, Avalanche, Base, and BNB, enabling one-click access to the vast liquidity and user base of native Bitcoin. Previously, most of these 11 mainstream public chains did not have direct paths to native BTC.

The BOB Gateway simplifies the complex cross-chain bridging process, allowing for direct conversion of native BTC, making it easier for users to enter the multi-chain DeFi ecosystem built around wBTC OFT. This integration combines BOB's Bitcoin intent system with LayerZero's OFT standard, achieving secure, programmable, and composable cross-chain Bitcoin liquidity. The combination of Bitcoin intent and universal messaging creates a highly capital-efficient interoperability model, marking another significant advancement following BOB's recent upgrade of wBTC to the LayerZero OFT standard.

LayerZero's wBTC.OFT standard is an omnichain standard for implementing wrapped Bitcoin (WBTC), allowing for seamless and efficient cross-chain transfers and interoperability of WBTC across different blockchains. This standard is supported by LayerZero's cross-chain verification protocol and custodians like BitGo through a burn-mint mechanism, ensuring the liquidity and security of assets, and expanding the use of WBTC to a broader blockchain ecosystem.

For institutions and individual users holding native BTC, the BOB Gateway supports one-click conversion of assets to wBTC.OFT on 11 chains (for example, for participating in DeFi deposits) or one-click return of earnings to native BTC. Additionally, nearly 15,000 Dapps on the 11 chains accessing wBTC.OFT can now implement one-click native BTC deposit functionality through the integration of the BOB Gateway SDK. This will significantly reduce the operational complexity of DeFi, making complex position management, including looping strategies, easily accessible to both institutions and retail users, effectively promoting the large-scale application of Bitcoin in the DeFi world.

Currently, nearly $2.3 billion of wBTC.OFT has completed 67,000 cross-chain transfers via LayerZero. After this upgrade, holders can directly cross-chain convert native BTC to wBTC.OFT, injecting new liquidity into the ecosystem and expanding access.

Alexei Zamyatin, co-founder of BOB and core contributor to BitVM, stated: "This upgrade is a key step in making BOB the gateway to Bitcoin DeFi. By enabling instant access to wBTC.OFT through the BOB Gateway, we provide a convenient one-click integration solution for thousands of applications across 11 chains. This strategic move aligns closely with our core goal of enhancing BTC accessibility and providing a seamless user experience. As native BTC flows into wBTC.OFT through BOB, users will be able to generate returns on Bitcoin in DeFi more safely and conveniently."

Simon Baksys, Vice President of Global Business Development at LayerZero, stated: "LayerZero, as a leading interoperability infrastructure, allows applications and users to access the assets they need on the chains they require. wBTC is currently one of the most widely used assets in the DeFi system, and this integration with BOB Gateway will further unlock its utility. By connecting native BTC to nearly 15,000 applications across 11 chains, we look forward to seeing wBTC continue to grow its market share as the most trusted asset in the crypto space and meet more user needs."

In addition to Ethereum, Avalanche, Base, and BNB, the BOB Gateway also supports one-click bidirectional conversion between native BTC and wBTC.OFT on Soneium, Unichain, Bera, Optimism, Sei, TelosEVM, Swell, Sonic, and the BOB chain itself, covering a total of 11 mainstream public chains. This extensive multi-chain layout ensures that users and developers can enjoy one-click Bitcoin DeFi services within the mainstream ecosystem.

About BOB (Build on Bitcoin)

BOB is the gateway to Bitcoin DeFi, allowing users to easily and securely earn returns with Bitcoin. BOB's unique hybrid public chain model combines the advantages of Bitcoin and Ethereum, utilizing hybrid zero-knowledge proofs and billions of dollars in staked Bitcoin to ensure the security of all applications, assets, and transactions within the BOB primary DeFi ecosystem. Accessing native BTC on BOB does not require any wrapped BTC or custodians, supported by the BitVM protocol. Additionally, users can access multi-chain Bitcoin yields with just one click and exchange BTC on any chain. To date, BOB has received support from leading investment institutions such as Castle Island Ventures, Coinbase Ventures, Ledger Cathay Ventures, and IOSG.

About BitGo

BitGo is a digital asset infrastructure provider, offering custody, wallet, staking, trading, financing, and settlement services based on regulated cold storage for institutions and individuals. Since its establishment in 2013, BitGo has been committed to accelerating the financial system's transition to a digital asset economy. With a global presence and multiple regulated entities, BitGo serves thousands of institutions (including industry-leading brands, exchanges, and platforms) and millions of investors.

About LayerZero

LayerZero is the infrastructure for the flow of funds in the modern world. As an interoperability protocol trusted by mainstream financial institutions such as PayPal USD, Google Cloud, and the Wyoming government, LayerZero is a leading interoperability protocol that securely supports hundreds of billions in transfers between digital ledgers each year.

This article is from a submission and does not represent the views of BlockBeats.

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