Summary:
kBTC is a fully backed, cross-network-compatible ERC-20 token.
Each kBTC token is backed 1:1 by Bitcoin, ensuring security and trust.
kBTC allows seamless integration into Ethereum and OP Mainnet, expanding Bitcoin's utility.
Kraken’s 13+ years of industry-leading custody infrastructure supports kBTC.
The kBTC smart contract underwent rigorous evaluation by Trail of Bits for security.
Our mission constantly challenges us to find innovative ways to accelerate the global adoption of crypto. Kraken Bitcoin (kBTC) builds upon Bitcoin’s fundamental strengths – security, scarcity, and its role as a store of value – and extends its utility further into DeFi and beyond.
What is kBTC?
kBTC is a fully backed, cross-network-compatible ERC-20 token. Each kBTC token is backed 1:1 by Bitcoin, securely held in Kraken’s custody. Clients can verify this by inspecting our reserves onchain.
Why kBTC?
We’ve always championed the transformative potential of Bitcoin, the original and most resilient digital asset. With kBTC, you’re getting Kraken’s 13+ years of industry-leading custody infrastructure, ensuring that kBTC is backed 1:1 by Bitcoin, securely stored and always accessible.
Kraken’s Best-in-Class Custody Procedures
Kraken’s full-reserve practices and regulated framework provide an unparalleled level of security and trust. Each kBTC token is backed 1:1 by Bitcoin held at Kraken Financial, a Wyoming-chartered SPDI (Special Purpose Depository Institution).
Don’t Trust – Verify!
We encourage you to inspect our onchain reserves and independently verify the transparency and security built into kBTC.
Security and Transparency at the Core of kBTC
kBTC’s ERC-20 smart contract was rigorously evaluated by Trail of Bits, an external security auditing firm. This audit ensured our codebase and client architecture are free from potential vulnerabilities.
Benefits of kBTC
kBTC transforms Bitcoin’s utility by allowing it to seamlessly integrate into Ethereum, OP Mainnet, and beyond, with plans for compatibility with additional networks, including non-EVM ecosystems.
Whether you’re a developer enhancing your dApps with Bitcoin or an investor seeking to broaden your onchain portfolio, kBTC provides a secure, fully-backed solution that unlocks Bitcoin’s unparalleled value across diverse ecosystems. Our Day 1 launch partners include deBridge, Definitive, Gauntlet, ParaSwap, and Yearn.
Kraken’s Commitment to the Future of Bitcoin
With kBTC, we bring the power of Bitcoin to new networks, underpinned by the trust and security expertise Kraken has established over the last decade. We believe kBTC reinforces Bitcoin’s position as the epicenter of crypto, empowering builders to explore new ways to use Bitcoin and pushing the entire ecosystem forward.
Join us in this journey as we push the boundaries of what’s possible with Bitcoin, ensuring it remains the bedrock of the crypto industry for generations to come.
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