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BTC 
WBTC BitGo adopted Chainlink CCIP as the cross-chain standard for wrapping Bitcoin, replacing LayerZero, and made security the only interoperability standard for its future assets.
KelpDAO exploit exposed verification flaws that prompted LayerZero to strengthen configuration, while Chainlink emphasized certified security measures and transfer controls.
Despite custody disputes, WBTC remains the largest packaging Bitcoin token, while BitGo retains ownership of token contracts in the context of growing institutional adoption.
BitGo migrates US$7.4 billion WBTC to Chainlink CCIP, security drives infrastructure transformation
BitGo has adopted Chainlink's Cross-Chain Interoperability Protocol (CCIP) as a new cross-chain standard for packaging Bitcoin (WBTC), making this US$7.4 billion token the largest asset migrated from LayerZero. This decision also establishes CCIP as an interoperability solution for all future assets issued by BitGo.
According to BitGo, the migration reflects its long-standing focus on security, as institutional customers demand stronger safeguards for assets transferred across multiple blockchain networks. BitGo CEO Mike Belshe explained that security remains the company's guiding principle, adding that Chainlink CCIP provides the control, reliability and risk management that institutional customers expect.
In addition, the company confirmed that all future assets issued by BitGo will use CCIP rather than LayerZero's homogeneous token standard, while WBTC was previously the largest asset in the standard.
Multiple blockchain projects, including Kraken's kBTC and Solv Protocol's SolvBTC and xSolvBTC, have chosen Chainlink CCIP for interoperability, making WBTC the largest packaging Bitcoin to join the migration.
"Safety comes first. Always. BitGo is migrating from our original solution and selecting @chainlink CCIP as our exclusive cross-chain infrastructure provider to standardize WBTC and all future BitGo releases into a single, Organization-level interoperability..."- BitGo (@BitGo) August 4, 2026
Security concerns accelerate migration to Chainlink CCIP
This latest migration comes after cross-chain bridge security has been more closely reviewed. A previous $292 million KelpDAO exploit exposed weaknesses in cross-chain infrastructure. The attacker targeted the rsETH bridge by compromising off-chain systems that support the LayerZero verification process.
At the time of the vulnerability, the affected bridges relied on a single "decentralized tester network" configuration, allowing attackers to forge cross-chain messages after gaining control of the supporting infrastructure. LayerZero later updated its security framework to eliminate similar configurations, and Dune Analytics data shows that nearly half of LayerZero OApp contracts previously relied on the same 1-of-1 verification model.
At the same time, Chainlink highlighted multiple protections built into CCIP, including independent node operators, configurable transfer controls, transaction rate limits, and automated security measures designed to reduce operational risks.
In addition, BitGo pointed out that CCIP is the only cross-chain protocol to hold both SOC2 Type 2 and ISO 27001 compliance certifications, which enhances its appeal among institutions seeking regulated blockchain infrastructure.
Packaging Bitcoin maintains market leadership in custody controversy
WBTC remains the largest packaging Bitcoin token, accounting for approximately 45% of the total market value of the space. Closely followed by Coinbase's cbBTC, with an estimated market value of about $6 billion, while other competing packaged Bitcoin products are much smaller.
BitGo's custody structure came under criticism after its 2024 partnership with BiT Global, which is associated with Sun Yuchen. Under the arrangement, BiT Global obtained two of three multi-signature keys that were used to protect WBTC's Bitcoin reserves.
Coinbase later removed WBTC from its platform and launched cbBTC as a replacement. BiT Global challenged the decision in court, but withdrew the lawsuit after a federal ruling upheld Coinbase's right to remove the token.
Despite the controversy, BitGo emphasized that it retains full ownership and control of the WBTC token contract. The company also pointed out that despite the decline in bitcoin market prices, the circulating supply of WBTC remained relatively stable.
Conclusion
BitGo's decision places the largest wrapped Bitcoin token in Chainlink's interoperability network, while reinforcing the industry's greater emphasis on cross-chain security. The migration also highlights how infrastructure providers prioritize risk management when organizations evaluate blockchain connectivity solutions.
