ALEX Acquires the Stacks Assets xBTC and xUSD of Wrapped.com and Integrates Them Into aBTC And sUSDT

ALEX,
the
first
and
largest
platform
to
offer
a
full
range
of
DeFi
services
on
Bitcoin,
and

Wrapped.com,
a
cross-chain
bridge
designed
for
high
performance
and
speed,
today
announced
the
acquisition
of
xBTC
and
xUSD
by
ALEX.
The
assets
will
be
integrated
into
aBTC
and
sUSDT,
respectively,
through
ALEX’s
XLINK
bridge.

Building
on
the
success
of
Wrapped
BTC
on
Ethereum,
xBTC
and
xUSD
bring
similar
compliance
and
security
to
the
Stacks
Ecosystem
and
enable
BTC
and
USD
trading
and
loans
on
AMMs
like
ALEX
and
other
applications.
The
announced
integration
of
xBTC
and
xUSD
into
aBTC
and
sUSDT
will
further
enhance
speed
and
performance
for
holders.

Since
2020,
Wrapped.com
has
been
at
the
forefront
of
transforming
lending,
borrowing,
and
trading
processes
across
major
DeFi
platforms
—
the
company
was
among
the
pioneers
in
introducing
Wrapped
Assets
for
Stacks.
Now,
ALEX,
the
largest
Bitcoin
DeFi
platform,
has
acquired
these
assets
to
facilitate
trading
on
various
Bitcoin
L2
solutions,
reducing
user
confusion
and
simplifying
asset
transfers.

During
a
30-day
migration
period,
xBTC
and
xUSD
can
be
exchanged
1:1
for
aBTC
and
sUSDT
on
XLink.
After
this
period,
the
underlying
BTC
and
USDC
will
be
transferred
to
XLink
and
continue
to
be
serviced
under
the
aBTC
and
sUSDT
banners.
After
this
30-day
period,
any
remaining
xBTC/xUSD
holders
will
have
to
contact
XLink/ALEX
community
managers
for
manual
migration.

“This
acquisition
is
a
significant
step
for
both
ALEX
and
the
Stacks
DeFi
ecosystem,”
says
the
ALEX
Lab
Foundation. “xBTC
and
xUSD
holders
will
experience
improved
features
and
enhanced
security through
the
ALEX
and
XLINK
platform,
marking
another
milestone
in
bridging
Bitcoin
L1
and
L2
for
a
seamless
DeFi
experience.”

ALEX
is
the
first
platform
to
offer
a
full
range
of
DeFi
services
on
Bitcoin,
enhancing
functionality
without
modifying
the
Bitcoin
blockchain.
By
integrating
Bitcoin’s
security
with
Layer
2
smart
contracts,
ALEX
enables
rapid
financial
transactions.
It
simplifies
DeFi
on
Bitcoin
with
a
set
of
tools
that
enable
AMM
and
order
book
trading,
a
launchpad,
and
a
comprehensive
bridge
that
enables
connectivity
to
Stacks,
Bitcoin,
Core,
BoB,
Merlin,
and
others.

XLINK
is
a
pioneering
bridge
designed
to
enable
seamless
interoperability
between
Bitcoin
and
Bitcoin
Layer-2
solutions
and
provide
essential
infrastructure
in
Bitcoin
DeFi.
The
ALEX
team
has
built
the
XLINK
product
with
a
focus
on
performance
and
scalability
—
to
date,
it
has
hit
over
$28M
TVL
and
more
than
33,000
transactions,
and
now,
with
this
integration,
it
will
provide
increased
speed
and
performance
for
holders
of
xBTC
and
xUSD.

About
ALEX

ALEX
is
the
first
and
largest
platform
to
offer
a
full
range
of
DeFi
services
on
Bitcoin,
combining
its
security
with
Layer
2
smart
contracts
for
fast,
secure
transactions.
ALEX
offers
a
suite
of
DeFi
tools,
including
a
DEX,
bridge,
Bitcoin
oracle,
and
Launchpad,
to
enable
the
creation
of
best-in-class
financial
apps
on
Bitcoin.
ALEX
leads
in
Bitcoin
DeFi
and
optimizes
liquidity
across
Bitcoin’s
layers.
For
more
information,
visit https://alexgo.io/ 

About
XLINK

XLINK
is
a
pioneering
bridge
designed
to
enable
seamless
interoperability
between
Bitcoin
and
EVM
Layer
2
solutions
and
provide
essential
infrastructure
in
Bitcoin
DeFi.
Acting
as
a
Bitcoin
Bridge,
XLINK
aggregates
liquidity
across
Bitcoin
L2s,
aiming
to
bring
native
DeFi
experience
to
Bitcoin
and
beyond.
For
more
information,
visit https://www.xlink.network/