BitGo Ditches LayerZero for Chainlink CCIP on $7.7 Billion Wrapped Bitcoin

BitGo, a leading crypto custodian, has chosen Chainlink's Cross-Chain Interoperability Protocol (CCIP) as its exclusive cross-chain infrastructure provider for its Wrapped Bitcoin (WBTC). The WBTC market capitalization exceeds $7.7 billion. BitGo plans to transition from LayerZero, its legacy interoperability solution, and standardize future cross-chain asset transfers on Chainlink CCIP.

According to Mike Belshe, CEO and co-founder of BitGo, security is the top priority, and Chainlink CCIP meets this requirement with its institutional-grade security, compliance certifications, and built-in risk controls. The infrastructure combines decentralized validation, issuer-managed transfer controls, and institutional security certifications.

The adoption aims to help institutions operate in a multi-chain environment by providing stronger security, greater operational consistency, and enhanced control over digital asset transfers. Chainlink Labs's Johann Eid commented that the collaboration is a major milestone towards establishing a secure DeFi ecosystem.