KR
kBTC is Kraken’s exchange-issued wrapped Bitcoin, a 1:1 backed ERC-20 representation of BTC available across Ethereum, OP Mainnet, and a growing list of EVM chains. Each kBTC is fully backed by Bitcoin held by Kraken under the same regulatory framework that governs the exchange.
The trust assumption is identical to other exchange-issued wrappers (cbBTC, BTCB): Kraken’s operational and regulatory standing in exchange for a deeply liquid, easily redeemable wrapper.