OK
xBTC is OKX’s exchange-issued wrapped Bitcoin, backed 1:1 by reserves held by the exchange. Like Coinbase’s cbBTC and Kraken’s kBTC, xBTC offers BTC holders a deeply liquid wrapped representation tied directly to OKX’s regulated custody.
The trust assumption is the exchange itself, in exchange for tight liquidity and easy on/off-ramping through OKX’s broader product suite.