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Bitgo Officially Launches Wrapped Bitcoin (WBTC) on Kava

Twitter icon  •  Published 1 month ago  •  Hassan Maishera

The Kava Network announced via a blog post on Wednesday that Bitgo has officially launched Wrapped Bitcoin (WBTC) on the Kava blockchain.

The Kava Network announced via a blog post on Wednesday that Bitgo has officially launched Wrapped Bitcoin (WBTC) on the Kava blockchain. Thanks to this latest development, Kava Chain now joins Ethereum and Tron as one of three elite Layer 1s that have both a native USDT and WBTC integration.

Bitgo plays a crucial role in the native WBTC integration on Kava as it is the custodial agent backing the WBTC natively issued on Kava and insured by a $250 million insurance policy. BitGo ensures high standards of security and rigorous compliance mixed with the industry's leading liquidity partners to onboard the highest quality wrapped BTC product onto Kava, the team added. 

Kava aims to become the default DeFi platform by providing stablecoins and decentralized lending against all major crypto assets. KAVA is down by 4% in the last 24 hours and is trading at $0.9254 at press time. 

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.