At Cobo, we’re constantly working to enhance our services to institutional users, making digital asset management more seamless and secure. Today, we’re pleased to share that WBTC conversion services are now available on Cobo Portal. Institutional users can now mint and burn WBTC directly on our platform, improving efficiency and simplifying workflows.  

WBTC (Wrapped Bitcoin) is the first ERC-20 token backed 1:1 by Bitcoin, enabling its use within the Ethereum ecosystem. It allows users to participate in decentralized finance (DeFi) applications, combining Bitcoin’s liquidity with Ethereum’s functionality. By integrating WBTC conversion services into Cobo Portal, we’re making it easier for our clients to manage their assets in one place.  

In August this year, BitGo transferred the management of the WBTC product to a new joint venture with BiT Global. As an official merchant for WBTC, we’ve securely facilitated over $20 million in conversions and worked closely with the new management entity to ensure a smooth transition.

We want to reassure you that this change will not impact the quality or reliability of our platform. Our mission is to continuously evolve in alignment with the dynamic digital asset landscape, ensuring that we meet the needs of our users every step of the way.

Learn more about WBTC here.