wBTC was a collaborative effort created by BitGo, Ren, and Kyber Network. wBTC is a wrapped version of BTC, which means that it is backed 1:1 with bitcoin. This wrapped token brings the value of bitcoin into the Ethereum ecosystem. wBTC can be traded on Decentralized Exchanges (DEXs) like Uniswap, and borrowed and lent on Compound and Aave. It also offers the possibility of bringing the value of bitcoin to any smart contract on Ethereum.