 Kraken crypto exchange launches own Wrapped Bitcoin token 
2024-10-17

Cryptocurrency exchange Kraken has launched its own tokenized version of Bitcoin representing BTC holdings stored by the company.
On Oct. 17, Kraken officially introduced Kraken Wrapped Bitcoin (kBTC), a token backed 1:1 by an equivalent amount of Bitcoin BTCUSD held in Kraken’s custody.
The new ERC-20 token is interoperable with networks, including Ethereum and OP Mainnet (formerly Optimism), and can be used in decentralized applications (DApps), Kraken said.
“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,” the exchange stated, adding:
This is a developing story, and further information will be added as it becomes available.