$sBTC and $STX are Now Natively Multichain, Powered by Wormhole NTT

On Tuesday, the Wormhole team announced via a blog post that Stacks, the leading Bitcoin Layer 2, is bringing native Bitcoin liquidity to broader DeFi ecosystems with Wormhole’s NTT (Native Token Transfers) standard. 

With this integration, sBTC, a decentralized, trust-minimized Bitcoin peg, and STX, Stacks’ native token, will expand multichain, starting with native deployments to Solana and Sui.

sBTC and STX will be deployed on Solana and Sui using NTT’s burn-and-mint mode, creating a unified supply that is managed and maintained across all supported chains with no wrapped tokens. The integration eliminates liquidity fragmentation, allowing for users to participate in Bitcoin-native DeFi on multiple chains while maintaining the security and decentralization advantages unique to the Stacks L2.

Wormhole is a leading interoperability platform powering multichain applications and bridges at scale. Wormhole’s modular suite of open-source, permissionless protocols and tools is being used by multichain builders to create some of the most popular web3 applications. W is trading at $0.0706, down 1.6% in the last 24 hours.