Kraken introduced its own tokenized version of Bitcoin, Kraken Wrapped Bitcoin (kBTC), on Oct. 17. kBTC is backed 1:1 by the amount of Bitcoin (BTC) that Kraken holds in its custody. The new ERC-20 token is compatible with networks like Ethereum and OP Mainnet (formerly Optimism) and can be used in decentralized applications (DApps). Kraken said kBTC strengthens Bitcoin’s central position in the crypto ecosystem and offers new use cases. What do you think about this development? We’re waiting for your comments.