BitGo Chooses Chainlink's CCIP as Exclusive Bridge for $7.3B WBTC Token

BitGo has chosen Chainlink's Cross-Chain Interoperability Protocol (CCIP) as its exclusive bridge for its $7.3 billion Wrapped Bitcoin (WBTC) token, replacing LayerZero.

This move is significant, as it allows BitGo to retain direct control over WBTC's token contracts, transfer limits, and cross-chain settings.

The switch follows a wave of similar moves triggered by the $292 million exploit of Kelp DAO's LayerZero powered bridge earlier this year. Mantle, Lombard, Aave, and Kraken had already announced plans to move their own cross-chain infrastructure from LayerZero to Chainlink CCIP before BitGo's announcement.

BitGo's move is not isolated, as Coinbase reached a comparable exclusive arrangement with Chainlink for its own wrapped Bitcoin product, cbBTC. This means two of the largest wrapped-Bitcoin tokens on the market now depend on the same bridge infrastructure.