Crypto Exchange Kraken Launches Wrapped Bitcoin Token kBTC

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Crypto Exchange Kraken Launches Wrapped Bitcoin Token kBTC
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Will Canny is a finance reporter at CoinDesk.n

The token will be available on both Ethereum and OP Mainnet.The token will be available on both Ethereum and OP Mainnet, and will be backed 1:1 with bitcoin, a company spokesperson said., the exchange's U.S. qualified custody solution, in a segregated wallet. The address of this wallet will be made public so that customers can see the bitcoin is in full reserve. platforms.

There won't be any supported spot markets for kBTC at launch, Kraken said, but if clients want to use their bitcoin they can redeem it for the underlying and trade it as they would do normally.

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