Wrapped Bitcoin team taps Hyperlane for WBTC bridge between Ethereum and Solana

The open-source interoperability network Hyperlane is extending Wrapped Bitcoin (WBTC), the leading ERC20 token backed 1:1 by Bitcoin, to the Solana ecosystem via its Nexus Bridge. This integration will provide a canonical and secure method for holders to transfer WBTC between Ethereum and Solana, meeting the growing demand for Bitcoin liquidity on high-throughput networks. WBTC, which has an $8 billion market cap, maintains 1:1 reserves held in custody by BitGo and BiT Global. The article also briefly notes recent controversy surrounding WBTC's custody model change involving BiT Global and Justin Sun, which caused some entities like MakerDAO and Coinbase to distance themselves, though WBTC remains the largest tokenized Bitcoin solution.

(Source：The Block)