LayerZero Partners with BitGo for WBTC Blockchain Interoperability
CryptoNewsTerminal Staff10 Sep, 2024
LayerZero Partners with BitGo for WBTC Blockchain Interoperability
LayerZero, a cross-chain messaging protocol, has partnered with crypto custodian BitGo to enhance the interoperability of Wrapped Bitcoin (WBTC). This collaboration will enable the seamless transfer of WBTC across multiple blockchains, including BNB Chain and Avalanche, through LayerZero's Omnichain Fungible Token (OFT) standard. By leveraging LayerZero's OFT standard, WBTC holders will gain the ability to move their assets across different networks, unlocking new opportunities for trading, lending, and decentralized finance (DeFi) applications. This integration aims to increase the utility and accessibility of WBTC by bridging the gap between isolated blockchain ecosystems.
