- What is Wrapped Bitcoin?
Wrapped Bitcoin (WBTC) is an ERC-20 token whose value is backed 1:1 with Bitcoin, and whose objective is to facilitate the migration of value from Bitcoin to the DeFi ecosystem of Ethereum. The project is part of the Wrapped Tokens initiative started by Kyber Network, BitGo y Republic Protocol. A key advantage of WBTC is its integration into the world of Ethereum wallets, dapps, and smart contracts.
Wrapped Bitcoin (WBTC) owners can wrap and unwrap their assets at any time.