Wrapped Bitcoin (WBTC): The Bridge Between Bitcoin and DeFi in 2025

Part 1 / Page 6

‍

3. Ren Protocol: Cross-Chain Interoperability

Ren Protocol is a decentralized protocol designed to provide cross-chain interoperability, enabling the transfer of assets between blockchains. Ren facilitates the wrapping of Bitcoin onto Ethereum by creating the necessary infrastructure for Bitcoin to be converted into WBTC. Ren’s protocol utilizes RenVM, a decentralized virtual machine that enables trustless asset transfers between various blockchain ecosystems.

Founded by Taiyang Zhang and Loong Wang, Ren Protocol emerged as a solution to the problem of cross-chain liquidity. Ren’s ability to facilitate the bridging of Bitcoin into the Ethereum network was a key factor in the development of WBTC. Ren provides the technology to mint WBTC tokens, ensuring that Bitcoin holders can move their assets onto Ethereum without needing to trust a centralized intermediary.

Taiyang Zhang, the CEO of Ren Protocol, has extensive experience in software engineering and cryptography. He previously worked at Alibaba as a senior engineer and has a deep understanding of blockchain scalability, security, and interoperability. His work on Ren Protocol focuses on creating decentralized bridges that connect different blockchain ecosystems, making it easier for users to access the liquidity of one blockchain from another. This cross-chain capability is what makes WBTC viable as a tokenized Bitcoin on the Ethereum blockchain (Ren Protocol, “Ren Protocol: Cross-Chain Liquidity for DeFi,” Ren Protocol, accessed April 2023).

Leadership and Track Record

The founders of BitGo, Kyber Network, and Ren Protocol have a proven track record in the cryptocurrency and blockchain space, with each bringing their respective areas of expertise to the creation of WBTC. Their combined experience in security, liquidity provision, and cross-chain interoperability has been instrumental in the project’s success.

1. BitGo’s leadership, led by Mike Belshe, ensures the security and regulatory compliance of WBTC, making it one of the most trusted Bitcoin-backed tokens in the DeFi ecosystem.
   
   
2. Kyber Network’s leadership, with Loi Luu at the helm, ensures that WBTC has deep liquidity across DeFi platforms, making it accessible to users and traders who wish to use Bitcoin in decentralized applications.
   
   
3. Ren Protocol’s leadership, with Taiyang Zhang as CEO, ensures that WBTC operates as a cross-chain asset, allowing for Bitcoin liquidity to flow into Ethereum and potentially other blockchains in the future.
   
   

The collaboration between these entities and their leaders has created a robust system where WBTC can thrive within the Ethereum ecosystem, expanding the use cases for Bitcoin and enhancing its role in DeFi.

Governance and Organizational Structure

The governance of WBTC is handled through a Decentralized Autonomous Organization (DAO), which is a key part of its governance model. The DAO ensures that key decisions regarding the development and future of WBTC are made collectively by the various stakeholders involved in the project, including the founding organizations and community members. This governance model is essential for maintaining the transparency and decentralization that the DeFi community values. However, it is important to note that the custodian model for WBTC still requires centralized involvement, particularly for the minting and redemption of WBTC tokens (WBTC Network).

Conclusion:

The team behind Wrapped Bitcoin (WBTC) is composed of some of the most respected names in the blockchain and cryptocurrency space. The leadership from BitGo, Kyber Network, and Ren Protocol has enabled the creation of WBTC, a fully Bitcoin-backed token that has bridged the gap between Bitcoin and Ethereum. Through their combined expertise in security, liquidity, and cross-chain interoperability, the team has positioned WBTC as a central asset in the expanding DeFi ecosystem.

The team’s deep experience in the industry, coupled with their innovative approach to tokenization and cross-chain liquidity, has ensured that WBTC remains one of the most secure and widely adopted Bitcoin-backed tokens in the DeFi space.

‍

Next is 2C: Key Team Members

Having explored the founding team and their leadership in the creation of WBTC, we will now transition to Section 2C: Key Team Members, where we will take a closer look at the technical leads, marketing heads, and other essential team members who are contributing to the ongoing development and success of the project.

This concludes Section 2B: Founding Team for Wrapped Bitcoin (WBTC). We've covered the background of the key founding organizations, their leadership, and their contributions to the success of WBTC. Next, we will dive into the profiles of the key team members in Section 2C: Key Team Members.

2C. Key Team Members

Technical Leads: Who’s in Charge of Building the Platform and Overseeing Technology?

The development of Wrapped Bitcoin (WBTC) is driven by a team of experts from the founding companies: BitGo, Kyber Network, and Ren Protocol. Each team contributes specific expertise, ensuring the project’s success.

1. Mike Belshe (BitGo - CEO):
   Mike Belshe is the co-founder and CEO of BitGo, the custodian for the Bitcoin reserves backing WBTC. He has been a key figure in ensuring the security of Bitcoin within WBTC. BitGo’s custodial role is central to WBTC’s functionality, as it guarantees that each WBTC token is fully backed by one Bitcoin stored in reserve. Before founding BitGo, Belshe worked at Google and Microsoft, where he gained expertise in building secure, scalable platforms. Under his leadership, BitGo has become a leader in digital asset custody and security (BitGo).
   
   
2. Ben Chan (BitGo - CTO):
   Ben Chan is the Chief Technology Officer at BitGo and was integral in the development of the technical architecture behind WBTC. He led the team responsible for building the multi-signature wallets and the infrastructure that ensures Bitcoin reserves are securely held. Chan has a background in cryptography and blockchain security, making him a key figure in developing WBTC’s secure custodial model (BitGo).
   
   
3. Victor Tran (Kyber Network - Co-founder & CTO):
   Victor Tran is the co-founder and CTO of Kyber Network, and has played a pivotal role in integrating WBTC with Kyber’s decentralized liquidity protocol. Kyber Network’s technology allows WBTC to be used seamlessly within decentralized exchanges and liquidity pools. Victor holds a Ph.D. in computer science and has extensive experience in blockchain development, particularly in building decentralized systems (Kyber Network).
   
   
4. Loong Wang (Ren Protocol - Co-founder & CTO):
   Loong Wang, co-founder and CTO of Ren Protocol, contributed to building the cross-chain technology that enables WBTC to move seamlessly between blockchains. Ren Protocol is crucial in facilitating the trustless bridging of Bitcoin into Ethereum via WBTC. Loong Wang’s work on the RenVM decentralized virtual machine allowed Bitcoin to be wrapped and transferred without relying on a centralized entity (Ren Protocol).
   

Marketing Heads: Who Drives the Platform’s Go-to-Market Strategy?

The success of WBTC also depends on its marketing strategy, which has been driven by the founding teams to ensure widespread adoption and integration within the DeFi space.

1. Loi Luu (Kyber Network - CEO):
   As the CEO of Kyber Network, Loi Luu has been instrumental in promoting WBTC within the DeFi community. Under his leadership, Kyber Network became one of the primary platforms to support WBTC, providing liquidity through its KyberSwap platform. Loi Luu has been a prominent advocate for the integration of Bitcoin in Ethereum-based decentralized finance. He frequently contributes to the broader discussion of DeFi’s potential and the role of WBTC in it (Kyber Network).
   
   
2. Mike Belshe (BitGo - CEO):
   In addition to his technical leadership, Mike Belshe is also involved in BitGo’s strategic marketing efforts, particularly in positioning WBTC as a secure and trusted product for institutional investors. His focus has been on ensuring that the project meets regulatory standards and operates transparently, which is key to attracting institutional players (BitGo).
   
   
3. Taiyang Zhang (Ren Protocol - CEO):
   Taiyang Zhang, CEO of Ren Protocol, has worked on promoting Ren’s role in enabling Bitcoin to be used on Ethereum through WBTC. He has emphasized the importance of cross-chain interoperability in DeFi, and how WBTC plays a key role in facilitating this. Taiyang is actively involved in Ren Protocol’s marketing and community outreach to expand WBTC’s adoption, particularly within the cross-chain liquidity ecosystem (Ren Protocol).
   

Other Key Contributors: Advisors and Influential Team Members

1. Advisors:
   The project also benefits from the advice of industry experts and advisors who provide guidance on blockchain security, regulation, and DeFi protocol integration. These advisors help steer WBTC's growth and ensure that it remains compliant with evolving regulatory frameworks. They also advise on best practices in custodianship and asset security, which are critical for maintaining user trust and adoption.
   
   
2. Community Managers:
   WBTC’s success also relies on its ability to engage with the broader cryptocurrency community. The community managers play a key role in engaging users on social media platforms such as Reddit, Telegram, and Twitter. These team members ensure that users are educated about how to use WBTC and participate in decentralized finance. They also help gather user feedback, which can be used to improve the platform.

‍

Thank you for taking the time to read this article. We invite you to explore more content on our blog for additional insights and information.

https://www.thestandard.io/blog  

‍

"If you have any comments, questions, or suggestions, please do not hesitate to reach out to us at [ https://discord.gg/K72hed6FRE ]. We appreciate your feedback and look forward to hearing from you."

‍

CLICK HERE TO CONTINUE

PART 1 / PAGE 7: www.thestandard.io/blog/wrapped-bitcoin-wbtc-the-bridge-between-bitcoin-and-defi-in-2025-7