BitGo Shifts $7.4B WBTC to Chainlink CCIP

BitGo has selected Chainlink's Cross-Chain Interoperability Protocol (CCIP) as its exclusive provider for Wrapped Bitcoin (WBTC), shifting around $7.4 billion worth of tokenized Bitcoin onto Chainlink's infrastructure.

This move brings the total value of publicly announced migrations from LayerZero to CCIP to roughly $14.6 billion, according to Chainlink co-founder Sergey Nazarov.

Nazarov attributed Chainlink's growth to three factors: security, reliability, and connectivity. He stated that BitGo's migration reflects increasing demand for secure cross-chain infrastructure and expects similar adoption across other tokenized assets.

BitGo will standardize WBTC using Chainlink's Cross-Chain Token (CCT) standard and has cited Chainlink's SOC 2 Type II and ISO 27001 certifications, issuer-controlled transfer limits, and automatic circuit breakers as reasons for the switch.

The migration 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. Neither BitGo nor Chainlink has shared a timeline for completing the WBTC migration across supported blockchains.