Kraken launches kBTC on Unichain to boost DeFi access
Kraken launches kBTC on Unichain
Kraken, one of the oldest cryptocurrency exchanges, has announced the launch of Kraken Wrapped Bitcoin (kBTC) on Unichain, an Ethereum-based Layer 2 network optimized for decentralized finance (DeFi).
This strategic integration enables Unichain users and developers to transfer ETH and USDT0 directly between Kraken and the Unichain network, strengthening Kraken’s role as a central liquidity hub and enhancing cross-chain interoperability in the DeFi space, according to the exchange’s website.
What is kBTC?
kBTC is not just another wrapped token — it is fully 1:1 backed by real Bitcoin held by Kraken Financial, a Wyoming-chartered Special Purpose Depository Institution (SPDI). This ensures regulatory compliance and secure asset backing.
Unlike many wrapped assets that offer limited transparency, Kraken provides full on-chain proof of reserves, publicly verifiable at kraken.com/kbtc. The token is already available across multiple networks, including Ethereum, OP Mainnet, Ink, and now Unichain.
“We believe kBTC strengthens Bitcoin’s position as the epicenter of crypto, empowers developers to explore new use cases for Bitcoin, and drives the entire ecosystem forward,” the company stated.
Bitcoin-powered innovation
The goal of kBTC is to offer developers a reliable and secure way to integrate Bitcoin into DeFi applications, cross-chain protocols, and smart contracts. Kraken is encouraging builders to “Use it. Build with it. Verify it,” highlighting the token’s potential to drive innovation in next-generation decentralized applications.
The launch also includes public access to the kBTC smart contract on Unichain and the BTC custody address, ensuring full transparency and verifiability.
Kraken sees this initiative as a key milestone in reinforcing Bitcoin’s role at the center of the crypto industry — not only as a store of value but as a foundational asset supporting advanced DeFi solutions.
As DeFi becomes increasingly interconnected, Kraken’s kBTC initiative further solidifies its leadership in integrating Bitcoin into emerging blockchain ecosystems.
It’s worth noting that Kraken recently partnered with Mastercard to enable cryptocurrency payments at over 150 million merchants worldwide.
