WBTC completes shift to multi-jurisdiction custody arrangement
Wrapped Bitcoin currently has a market capitalization of approximately $9.5 billion and a circulating supply of 154,782 tokens.
*Wrapped BTC activity January 2019- September 2024. Source: CryptoQuant*
The custody operations will now be diversified across multiple jurisdictions, including significant locations like Hong Kong and Singapore. This expansion is part of a broader strategy to enhance WBTC's global presence and operational capabilities The new custody structure employs a multisignature agreement, requiring two signatures to authorize any transaction or movement of funds from the wallet. This adds an extra layer of security to the management of WBTC assets
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