BitGo Switches WBTC to Chainlink for Better Security

BitGo is making a big change to how its Wrapped Bitcoin functions. The firm announced it is moving away from LayerZero and will use Chainlink as the exclusive provider for cross chain infrastructure. This affects roughly $7.7 billion worth of assets currently circulating in the market.

This shift focuses on the Cross Chain Interoperability Protocol from Chainlink. BitGo plans to move all of its future issued digital assets over to this same system. By centralizing these transfers, BitGo aims to minimize potential risks when moving tokens between different blockchain networks.

Traders and holders should watch how this transition impacts the liquidity of WBTC across various decentralized finance platforms. As the company moves its infrastructure over, users will want to keep an eye on how these technical updates perform under real world conditions.