Kraken, a leading cryptocurrency exchange, has launched its wrapped Bitcoin token, kBTC. The new token, available on the Ethereum and Optimism networks, is backed 1:1 by Bitcoin. This move aims to expand Bitcoin’s utility within decentralized finance (DeFi) ecosystems. kBTC from Kraken is Bitcoin with greater interoperability across many different blockchain platforms. By allowing users…
Kraken has launched KBTC, a wrapped bitcoin product fully backed 1:1 by bitcoin and compatible with multiple networks. KBTC aims to expand bitcoin’s use beyond its native chain and into decentralized finance (defi) ecosystems. Kraken Introduces KBTC to Enhance Bitcoin’s Utility Across Networks Kraken’s KBTC is an ERC20 token that allows bitcoin (BTC) to interact…
Kraken has introduced a new wrapped Bitcoin product, kBTC, to tap into the rapidly expanding sector, according to an Oct. 17 statement. kBTC is a fully-backed, cross-network-compatible ERC-20 token representing Bitcoin. Each kBTC is backed 1:1 by an equivalent amount of Bitcoin, stored securely in Kraken’s custody, with on-chain reserves available for public verification. The…
October 17, 2024 at 09:20 PM GST updated: October 17, 2024 at 08:03 PM 2 mins read News Kraken’s kBTC is a 1:1 backed ERC-20 token, enhancing Bitcoin’s utility across Ethereum and OP Mainnet for DeFi users. With kBTC, Kraken leverages 13 years of expertise, ensuring secure, transparent access to Bitcoin in decentralized applications. Users…