BitGo and Bit Global have strengthened the security of Wrapped Bitcoin (WBTC) through their collaboration ¹. BitGo is a leader in digital asset security, custody and liquidity, providing secure and scalable solutions for the digital asset economy ² ³. They have a robust track record of security protocols to ensure the secure custody of the BTC supporting WBTC ¹ ⁴. This collaboration has heralded an unparalleled degree of transparency through the implementation of a proof-of-reserve mechanism ¹ ⁴.
BitGo has also launched WBTC on Base and Kava, expanding WBTC's reach to the Cosmos ecosystem and showcasing both BitGo and Kava's commitment to innovation and adaptability ¹ ⁴. WBTC standardizes Bitcoin (BTC) to the ERC-20 format, allowing decentralized applications (dApps) to leverage BTC for decentralized lending, margin trading and derivative markets on the Ethereum network ¹ ⁴.
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