BitGo Switches $7.3B WBTC Cross-Chain Transfers to Chainlink CCIP

BitGo has made a significant move in its bid to expand institutional digital asset services by switching $7.3 billion worth of Wrapped Bitcoin (WBTC) cross-chain transfers from LayerZero to Chainlink's Cross-Chain Interoperability Protocol (CCIP). This migration brings the total value of assets moving from LayerZero to Chainlink CCIP to around $14.6 billion, following security concerns after a major exploit earlier this year.

The new setup gives BitGo direct control over token contracts, transfer limits, and operational settings, enhancing security and operational oversight. This move is part of BitGo's broader strategy to improve cross-chain infrastructure, although no timeline for full deployment has been disclosed yet.