NAVI announced a partnership with OKX to exclusively launch the xBTC liquidity pool on the Sui network.

2025-05-22 10:06:33

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According to Deep Tide TechFlow news, on May 22, Sui ecosystem DeFi project NAVI Protocol announced a partnership with OKX to exclusively launch the xBTC liquidity pool on the Sui network, extending the wrapped Bitcoin asset xBTC under OKX to Sui. This initiative marks a significant step for Bitcoin holders to unlock greater capital efficiency within the Sui DeFi ecosystem.

At the same time, NAVI Protocol also revealed that it will further announce large-scale activities in the future to significantly enhance the liquidity and lending capabilities of xBTC on NAVI.

It is reported that xBTC is a wrapped Bitcoin issued by OKX, strictly adhering to a 1:1 reserve mechanism. Users can withdraw BTC from the exchange to the target chain to obtain an equivalent amount of xBTC; they can also recharge xBTC back to the exchange via the target chain and exchange it for BTC. The platform verifies asset transparency in real-time through on-chain Proof of Reserves (PoR), further ensuring the safety of user assets.

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