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CDS Crypto News Kraken Launches kBTC: Tokenized Bitcoin Now Available on Ethereum and Optimism

Crypto News

Kraken Launches kBTC: Tokenized Bitcoin Now Available on Ethereum and Optimism

lectertodd17/10/20241 Mins read27

Kraken Launches kBTC Tokenized Bitcoin Now Available on Ethereum and Optimism

Kraken Launches kBTC: Bitcoin Meets DeFi with New Tokenized Version

Crypto exchange Kraken has introduced a tokenized version of the cryptocurrency that represents the company’s BTC holdings. Kraken Wrapped Bitcoin, or kBTC, was formally unveiled on October 17 and is backed 1:1 by an equivalent quantity of Bitcoin that Kraken owns. Decentralized apps (DApps) can use the new ERC-20 token, which is compatible with networks like Ethereum and OP Mainnet (Optimism), according to Kraken.

With kBTC, we’re bringing the power of Bitcoin to new networks, underpinned by the trust and security expertise Kraken has established over the last decade. We believe kBTC reinforces Bitcoin’s position as the epicenter of crypto, empowers crypto builders to explore new ways to use Bitcoin, and pushes the entire ecosystem forward.
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lectertodd

Lectertodd is 27 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

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