We’re pleased to share that WBTC (Wrapped Bitcoin) is now live on Ethereum. For those who are not familiar with the initiative, WBTC is an ERC20 token fully backed by real BTC and stored by regulated custodians.

Together with Bitgo and Republic, we first announced the initiative in October last year, and it is now supported by more than 25 of the most important projects in the decentralized finance space.

Kyber’s Role

Kyber will be supporting WBTC as a launch partner in 3 main roles — as a founding merchant/liquidity provider, a DAO member, and by listing WBTC on Kyber Network, allowing it to be used in a wide range of swap services, wallets, websites, and DApps.

Merchant and Liquidity provision

As a launch merchant, we have worked with BitGo to procure an initial amount of WBTC, ensuring that users who wish to acquire WBTC at launch can do so easily. As such, WBTC is now available on KyberSwap to be exchanged with ETH, as well as any supported ERC-20 token.