Chainlink is strengthening its position in cross-chain infrastructure after BitGo selected its Cross-Chain Interoperability Protocol (CCIP) as the exclusive provider for Wrapped Bitcoin (WBTC). This decision shifts around $7.4 billion worth of tokenized Bitcoin onto Chainlink’s infrastructure. Furthermore, it brings the total value of publicly announced migrations from LayerZero to CCIP to roughly $14.6 billion.
Speaking about the development, Chainlink co-founder Sergey Nazarov said the network’s growth is being driven by three factors: security, reliability, and connectivity. He added that BitGo’s migration reflects increasing demand for secure cross-chain infrastructure. Additionally, he expects similar adoption across other tokenized assets.
WBTC is the largest tokenized version of Bitcoin, allowing BTC to be used across decentralized finance applications on multiple blockchains.
Under the new setup, BitGo will standardize WBTC using Chainlink’s Cross-Chain Token (CCT) standard. In addition, CCIP will become the default cross-chain protocol for future digital assets issued by the company. The company also cited Chainlink’s SOC 2 Type II and ISO 27001 certifications, issuer-controlled transfer limits, and automatic circuit breakers. Furthermore, BitGo highlighted the ability to retain complete ownership of token contracts without relying on CCIP-specific smart contract code.
BitGo said the structure allows it to maintain direct control over token contracts, transfer limits, and operational settings. Therefore, it does not need to rely on an external bridge provider.
The latest move follows a series of similar decisions made after the $292 million exploit involving Kelp DAO’s LayerZero-powered bridge earlier this year.
Since then, projects including Mantle, Lombard, Kelp DAO, Solv Protocol, Virtuals, Re, Kraken, and Aave have either announced or started migrating their cross-chain infrastructure to Chainlink CCIP.
Following the announcement, Chainlink now supports roughly 70% of wrapped Bitcoin infrastructure after BitGo’s migration.
The migration comes as BitGo continues expanding its institutional business with products like BitGo Link, treasury management tools, and quantum-risk protection for Bitcoin wallets. It is also offering controlled DeFi custody for platforms including Aave, Spark, and Tesseract. Neither BitGo nor Chainlink has shared a timeline for completing the WBTC migration across supported blockchains. At the time of writing, LINK traded around $8.18. According to DefiLlama, LayerZero’s total value secured was $6.66 billion and has declined about 12% since projects began moving to Chainlink CCIP.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
The U.S. Senate has officially delayed the CLARITY Act vote until September after senators failed…
Tether is expanding beyond stablecoins as it takes its tokenization business to Saudi Arabia. The…
The Solana price may still be trading well below previous highs, but activity across the…
Don't invest unless you're prepared to lose all the money you invest. This is a…
The ENA price continues to test investors' patience. While the token remains stuck near a…
Ripple has recently been making continuous progress in building its global digital asset infrastructure, including…
