US-Based Crypto Exchange Announces Launch of New Kraken Wrapped Bitcoin (kBTC)
The second largest US-based crypto exchange by trading volume is launching a new 1:1 Bitcoin (BTC)-pegged token.
According to a new announcement, Kraken just dropped Kraken Wrapped Bitcoin (kBTC), a wrapped BTC token fully backed by the exchange.
“We are thrilled to launch Kraken Bitcoin (kBTC), a fully backed, cross-network-compatible ERC-20 representation of Bitcoin custodied by Kraken…
kBTC is a fully backed, cross-network-compatible ERC-20 token. Each kBTC token is fully backed 1:1 by an equivalent amount of Bitcoin and held securely in Kraken’s custody.”
According to Kraken, the Ethereum (ETH)-based BTC equivalent will be available for use in decentralized applications (dApps) and will be interoperable on…
