Crypto infrastructure firm BitGo is set to replace LayerZero with Chainlink as the exclusive cross-chain provider for wrapped bitcoin (WBTC).
WBTC is a tokenized representation of bitcoin designed to track its value. BitGo said it will standardize WBTC deployments using Chainlink’s Cross-Chain Token standard and use CCIP by default for future assets it issues.
BitGo originally selected LayerZero in 2024 to expand WBTC across blockchains, initially using the service for deployments on Avalanche and BNB Chain. The previous configuration required BitGo’s own verifier and either LayerZero or Polyhedra to approve each cross-chain transfer.
The transition follows a migration wave in the sector. A $292 million exploit of Kelp DAO’s LayerZero-powered bridge occurred earlier this year.
Industry-wide migration to CCIP
Several entities have announced moves to Chainlink’s CCIP, including Mantle, Kelp, Lombard, Solv Protocol, Virtuals, Re, and Kraken.
The total value of funds moving their cross-chain infrastructure to Chainlink's CCIP is roughly $14.6 billion, which includes the WBTC value and $7.24 billion covered by earlier migration announcements.
Total value of funds migrating cross-chain infrastructure to Chainlink's CCIP
Chainlink’s directory already lists CCIP-enabled WBTC pools on Ethereum and Ronin. According to CoinMarketCap, WBTC currently has a market capitalization of approximately $7.4 billion.
