{"id":39754,"date":"2024-10-18T07:48:10","date_gmt":"2024-10-18T07:48:10","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/new-wrapped-bitcoin-token-kbtc-released-by-kraken-for-cross-network-use\/"},"modified":"2024-10-18T07:48:10","modified_gmt":"2024-10-18T07:48:10","slug":"new-wrapped-bitcoin-token-kbtc-released-by-kraken-for-cross-network-use","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/new-wrapped-bitcoin-token-kbtc-released-by-kraken-for-cross-network-use\/","title":{"rendered":"New Wrapped Bitcoin Token (kBTC) Released by Kraken for Cross-Network Use"},"content":{"rendered":"<p><b>(Originally posted on : Crypto News &#8211; iGaming.org )<\/b><br \/>\n<\/p>\n<div>\n<p>Kraken, the second-largest US-based crypto exchange, has launched a new token called Kraken Wrapped Bitcoin (kBTC). This ERC-20 token is fully backed by <a href=\"https:\/\/igaming.org\/cryptocurrencies\/section\/what-is-a-bitcoin\/\">Bitcoin,<\/a> offering a 1:1 peg with BTC. The exchange is introducing kBTC to broaden Bitcoin\u2019s use across decentralized applications (dApps) and other networks.<\/p>\n<h2>Expanding Bitcoin\u2019s Reach Through kBTC<\/h2>\n<p>Kraken\u2019s latest move aims to bridge Bitcoin with Ethereum-based decentralized ecosystems. According to Kraken\u2019s official statement, \u201c<em>kBTC is a fully backed, cross-network-compatible ERC-20 representation of Bitcoin custodied by Kraken.\u201d<\/em> This token will allow Bitcoin users to interact seamlessly with decentralized applications on Ethereum and OP Mainnet, formerly known as Optimism. The exchange plans to further expand kBTC\u2019s functionality to additional layer-1 networks, including non-EVM-based platforms.<\/p>\n<p>The introduction of kBTC signifies Kraken\u2019s intent to extend Bitcoin\u2019s influence into new crypto environments. Kraken highlighted that kBTC would allow users to experience Bitcoin\u2019s value in more innovative and versatile ways.<\/p>\n<h3>A New Era for Bitcoin in Decentralized Ecosystems<\/h3>\n<p>Kraken envisions kBTC as a key element in pushing Bitcoin\u2019s integration into the broader crypto space. The exchange emphasized the importance of Bitcoin in their strategy: <em>\u201cWith kBTC, we\u2019re bringing the power of Bitcoin to new networks, underpinned by the trust and security expertise Kraken has established over the last decade.\u201d<\/em><\/p>\n<p>By introducing this wrapped token, Kraken aims to empower developers and crypto enthusiasts to leverage Bitcoin in more creative ways while maintaining the reliability and trust the exchange is known for. As Kraken continues to build upon Bitcoin\u2019s foundational role in the cryptocurrency landscape, it reinforces Bitcoin\u2019s significance as the \u201cepicenter of crypto.\u201d<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\"> <strong><strong>Get 125% \/ $2,500 on 1st deposit!<\/strong><\/strong> <\/p>\n<p>New players only. Exclusive Welcome Bonus of up to $2,500<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div><\/div>\n<p><a href=\"https:\/\/igaming.org\/crypto\/new-wrapped-bitcoin-token-kbtc-released-by-kraken-for-cross-network-use\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Crypto News &#8211; iGaming.org ) Kraken, the second-largest US-based crypto exchange, has launched a new token called Kraken Wrapped Bitcoin (kBTC). This ERC-20 token is fully backed by Bitcoin, offering a 1:1 peg with BTC. The exchange is introducing kBTC to broaden Bitcoin\u2019s use across decentralized applications (dApps) and other networks. [&hellip;]<\/p>\n","protected":false},"author":34,"featured_media":39755,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/39754"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=39754"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/39754\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/39755"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=39754"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=39754"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=39754"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}