BitGo Abandons LayerZero, Chooses Chainlink for WBTC Interoperability

Crypto custodian BitGo has announced its selection of Chainlink as the exclusive cross-chain infrastructure provider for wrapped Bitcoin (WBTC), replacing LayerZero.

The move is expected to standardize WBTC and all future BitGo-issued assets on a single, institutional-grade interoperability solution, called CCIP by Chainlink. This will eliminate derivative copies previously created by bridges and allow each blockchain to have a single BitGo version of WBTC.

BitGo's CEO, Mike Belshe, emphasized the company's commitment to security, stating that 'security first' has always been its guiding principle. The company cited Chainlink's protocol for its robust security architecture, compliance with institutional client standards, and built-in control mechanisms.

The total value of assets whose issuers have announced a switch from LayerZero to Chainlink has reached nearly $15 billion, including WBTC and other tokens such as kBTC. This comes after the hack of the rsETH bridge on the LayerZero-based Kelp protocol, which led to a restructuring of LayerZero's security.

The transition timeline for BitGo's migration to CCIP has not been disclosed by the company or Chainlink. However, Chainlink's catalog already lists WBTC pools with CCIP support for Ethereum and Ronin.