Bitcoin
BitGo Moves $7.4B Wrapped Bitcoin to Chainlink Cross-Chain Protocol
BitGo has migrated $7.4 billion in Wrapped Bitcoin to Chainlink's Cross-Chain Interoperability Protocol, marking a major shift in tokenized asset infrastructure.
BitGo has selected Chainlink's Cross-Chain Interoperability Protocol (CCIP) as the exclusive provider for its Wrapped Bitcoin (WBTC) operations, moving approximately $7.4 billion in tokenized Bitcoin onto Chainlink's infrastructure. The move brings total publicly announced migrations from alternative bridge providers to CCIP to roughly $14.6 billion.
Chainlink co-founder Sergey Nazarov attributed the network's growth to three key factors: security, reliability, and connectivity. He characterised BitGo's decision as reflecting rising demand for dependable cross-chain infrastructure and predicted similar adoption patterns among other tokenized assets.
Under the new arrangement, BitGo will standardize WBTC using Chainlink's Cross-Chain Token standard, with CCIP becoming the default cross-chain protocol for the company's future digital asset issuances. BitGo cited Chainlink's SOC 2 Type II and ISO 27001 certifications alongside features such as issuer-controlled transfer limits and automatic circuit breakers as key factors in the decision. Critically, the structure allows BitGo to retain direct ownership of token contracts without relying on CCIP-specific smart contract code.
The migration follows several similar moves after the $292 million LayerZero bridge exploit involving Kelp DAO earlier this year. Since then, projects including Mantle, Lombard, Kelp DAO, Solv Protocol, Virtuals, Re, Kraken, and Aave have announced or begun migrating to Chainlink CCIP. Following BitGo's transition, Chainlink now supports approximately 70 percent of wrapped Bitcoin infrastructure.
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