A sort of cryptocurrency or digital asset known as wrapped tokens stands in for another underlying asset or money. They are often developed on a blockchain platform, like Ethereum, that enables smart contracts.

Wrapped tokens are used to transfer and utilise assets that are not supported natively by a certain blockchain network. For instance, a blockchain network may not be immediately interoperable with other cryptocurrencies like Bitcoin or conventional assets like fiat currencies if it solely supports its own native cryptocurrency (for…