<ul><li>Kraken has launched Kraken Wrapped Bitcoin (kBTC), an ERC-20 token backed 1:1 by Bitcoin held in Kraken's custody.</li><li>kBTC is compatible with Ethereum and OP Mainnet, allowing access to DApps across multiple blockchains.</li><li>Kraken's kBTC distinguishes itself by offering cross-chain compatibility and being backed by a Special Purpose Depository Institution (SPDI).</li><li>The launch comes amidst increasing competition in the wrapped Bitcoin market, with major players like Coinbase and 21Shares also introducing their own tokens.</li></ul>

Kraken Launches New Wrapped Bitcoin kBTC as Competition Heats Up

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