Tokenised bitcoin WBTC is partnering with open-source interoperability network Hyperlane to build a bridge connecting Ethereum and Solana, The Block reported on Feb. 12 local time.
WBTC holders will be able to transfer WBTC between Ethereum and Solana via the Hyperlane Nexus Bridge. WBTC said, "As demand for bitcoin liquidity increases on high-performance networks, interoperability with high security and reliability is essential." It added, "We will expand WBTC to Solana through Hyperlane to provide bitcoin-based liquidity to developers and users."
WBTC, a major tokenised bitcoin launched in January 2019, supports using bitcoin's value on other blockchains such as Ethereum or Tron.
WBTC has formed an $8 billion market and operates by holding actual bitcoin on a 1:1 basis. BitGo and Hong Kong-based custody platform BiT Global currently custody WBTC.
Chi-gyu Hwang
delight@d-today.co.kr