Wrapped Bitcoin, or WBTC, is the first ERC-20 token backed 1:1 with Bitcoin. It is generated by fully-collateralizing BTC with a custodian and minting an Ethereum-compatible token that can be exchanged with other tokens. ERC-20 is a technical standard developed after the release of ETH that allows the tokens created on the Ethereum blockchain, such as ZRX, to interact with each other.
Can I trade Bitcoin on Matcha?
This also means that if you want to trade Bitcoin, you can't simply connect your wallet and trade Bitcoin. You need to wrap your Bitcoin to the ERC20 standard (WBTC) and then you can trade on Ethereum network.
📚 Recommended reading to learn more about wrapped BTC and the ERC-20 standard:
Learn Everything About ERC20 Tokens [Blockgeeks]