WB
Wrapped Bitcoin (WBTC) is the original ERC-20 representation of Bitcoin on Ethereum. Each WBTC is backed one-for-one by BTC held in custody, with reserves attested on-chain and a public list of merchants and custodians participating in the issuance and redemption process.
WBTC predates most newer wrapping designs and remains the deepest BTC-pegged asset in DeFi liquidity venues, routinely used as collateral in lending markets, in DEX liquidity pools, and as a settlement asset for institutional flows. The system’s trust assumption is the operational integrity of the custodian and merchant set rather than a trust-minimized bridge.