Why did Wrapped Bitcoin (WBTC) appear?

Wrapped Bitcoin (WBTC) was created to connect two worlds: Bitcoin and Ethereum. While Bitcoin is the largest cryptocurrency by market capitalization, its blockchain does not support smart contracts, which allow the creation of decentralized applications (DApps). In contrast, Ethereum provides these capabilities, but its tokens are not as widely recognized. WBTC allows Bitcoin holders to participate in the Ethereum DeFi space without losing liquidity and security. It serves as a bridge between the two ecosystems, opening new horizons for users and investors.