Key facts
- BitGo is replacing LayerZero with Chainlink CCIP as the exclusive cross-chain provider for wrapped bitcoin (WBTC).
- This transition brings the total value of assets migrating from LayerZero to Chainlink to approximately $14.6 billion.
- The shift follows a $292 million exploit of Kelp DAO's LayerZero-powered bridge, increasing scrutiny on LayerZero configurations.
- BitGo will use Chainlink's Cross-Chain Token standard and CCIP by default for future assets.
- BitGo will maintain control over its token contracts, rate limits, and transfer settings.
Crypto infrastructure firm BitGo is set to replace LayerZero with Chainlink as the exclusive cross-chain provider for its wrapped bitcoin (WBTC), a move that pushes the total value covered by announced LayerZero-to-Chainlink migrations to nearly $15 billion.
The transition is part of a broader migration trend that began after the $292 million exploit of Kelp DAO’s LayerZero-powered bridge earlier this year, which heightened scrutiny of LayerZero bridge configurations. Several other projects, including Mantle, Kelp, Lombard, Solv Protocol, Virtuals, Re, and Kraken, have also announced shifts to Chainlink’s Cross-Chain Interoperability Protocol (CCIP).
Wrapped bitcoin (WBTC) is a tokenized representation of bitcoin that tracks its value and can be used in decentralized finance applications on other blockchains. WBTC currently holds a market capitalization of approximately $7.4 billion. When combined with the $7.24 billion covered by previous migration announcements, the total value of funds moving their cross-chain infrastructure to CCIP reaches roughly $14.6 billion.
BitGo stated that it will standardize WBTC deployments using Chainlink’s Cross-Chain Token standard and will utilize CCIP by default for any future assets it issues. This structure will allow BitGo to retain control over its token contracts, as well as set rate limits and other controls governing inter-blockchain transfers.
BitGo had initially selected LayerZero in 2024 to expand WBTC across blockchains, using it for deployments on Avalanche and BNB Chain. That configuration required BitGo’s own verifier and either LayerZero or Polyhedra to approve each cross-chain transfer. Chainlink’s directory already lists CCIP-enabled WBTC pools on Ethereum and Ronin. The announcement did not specify a timeline for the completion of the broader migration.