WBTC completes transition to multi-jurisdictional custody structure

Wrapped Bitcoin (WBTC) has completed its transition to a multi-jurisdictional custody structure, Cointelegraph reported. Adopting a multi-signature agreement, the new custody structure requires two signatures to approve any transaction and move funds. Earlier, WBTC operator BitGo announced plans to transfer its WBTC business to a joint venture with Hong Kong-based crypto custodian BiT Global.