Wrapped Bitcoin to Be Delisted From Crypto.com on January 31st

Crypto.com will delist Wrapped Bitcoin on January 31st. The deadline for converting or withdrawing these assets is March 31st. After this date, any remaining holdings may not be accessible through the exchange.WBTC InfoWrapped Bitcoin is a tokenized version of Bitcoin built on the Ethereum blockchain. As an ERC-20 token, WBTC is fully compatible with Ethereum’s ecosystem of decentralized exchanges, DeFi platforms, and other applications. Its primary purpose is to bring Bitcoin’s liquidity to the Ethereum network, enabling BTC to be used in a wide range of decentralized financial applications.WBTC maintains a 1:1 peg to Bitcoin through a network of merchants and custodians who automatically monitor and verify the backing of each token with actual BTC. This allows users to transfer liquidity between the Bitcoin and Ethereum networks securely and autonomously. WBTC tokens are utilized in the Ethereum ecosystem for trading, lending, yield farming, and liquidity pooling, while smart contract technology ensures the process is fully decentralized and non-custodial.As an ERC-20 token, WBTC can seamlessly integrate with Ethereum’s decentralized applications and protocols, offering users the ability to lend, borrow, and engage in yield farming or liquidity provision. It simplifies operations for wallets, exchanges, and payment services by enabling them to support Bitcoin liquidity using only Ethereum infrastructure. Additionally, WBTC transactions benefit from Ethereum’s faster block times, making it more efficient for on-chain interactions compared to native Bitcoin.