BitGo announced the launch of “Wrapped Bitcoin” (wBTC) and “Wrapped Ether” (wETH) on the Tron blockchain. This is a way for Justin Sun’s project to continue integrating the DeFi sector.
Wrapped Bitcoin and Ether land on Tron
The Tron Foundation announced the news in a press release yesterday . The Wrapped Bitcoin (WBTC) and Wrapped Ether (Weth) are launched as TRC-20, which are the equivalents of ERC-20 for blockchain Tron. BitGo customers have already started producing (“ mint“ ) wBTC and wETH on the Tron blockchain.
Join the DeFi sector
The maneuver is of course used to create a bridge between the DeFi sector , which uses “Wrapped” tokens a lot, and the Tron blockchain. The wBTCs represent a considerable weight for decentralized finance: they are the first asset in the sector in terms of capitalization, according to data from DeFiMarketCap . Today, they weigh 3.6 billion dollars and allow the use of Bitcoin with various DeFi protocols.
Tron’s ambition was confirmed by Justin Sun, the creator of the project:
“This is the start of a new era where the growing TRON community can finally begin to appreciate the unlimited potential of DeFi . “
Sun also recalled that Tron has its own DeFi services, such as JustLink and JustSwap . BitGo CTO Chen Fang also praised this development:
„We are proud to contribute to the growth of the ecosystem through case unique uses and far in exploring. „