WBTC Wrapped BTC

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WBTC (Wrapped Bitcoin) is an ERC20 token linked to Bitcoin. It will be officially launched at 5:00 pm on January 30th, US Pacific time (9 am on January 31st, Beijing time). WBTC was jointly launched by blockchain projects such as BitGo, Kyber Network, and Ren (formerly known as Republic Protocol). The token is issued on Ethereum to achieve a 1:1 peg to Bitcoin. All WBTC issued will receive Bitcoin Yes, each Bitcoin stored by the custodian can correspond to the total number of WBTC issued, and can be verified on the chain. Only with the approval of the merchant, the custodian can mint WBTC, and when the holder converts WBTC into Bitcoin, WBTC will be destroyed.