According to the press release by the WBTC decentralized autonomous organization (DAO) available on its web-site, it has now launched its Wrapped Bitcoin (WBTC) token on Ethereum. WBTC tokens will be fully backed by Bitcoin and the atomic swap technology will be used to power it.
According to the developers, the introduction of this token will allow Ethereum DApps to leverage the additional liquidity provided by BTC. The token launch is supported by several decentralized exchanges, including Kyber Network, and BitGo as BTC custodian. The token will be immediately usable in several financial DApps.