Kraken stated it can change LayerZero, a protocol for shifting crypto belongings throughout blockchains, with Chainlink’s equal after the $292 million bridge exploit that hit liquid restaking protocol Kelp final month uncovered dangers in legacy cross-chain infrastructure.
Chainlink’s Cross-Chain Interoperability Protocol (CCIP) will turn into the unique cross-chain service for Kraken’s wrapped crypto belongings together with kBTC, its wrapped bitcoin, the crypto alternate stated in an announcement.
The transfer follows comparable migrations by platforms together with Kelp, Solv and Re. Kelp misplaced 116,500 rsETH (restaked ether) from a LayerZero-powered bridge in 2026’s largest exploit in April. LayerZero later stated it “made a mistake” by permitting its personal verifier community to safe high-value belongings within the configuration used. In complete, an estimated $3 billion in complete worth locked has since migrated.
Kraken’s migration covers varied blockchains together with Ink, Ethereum, Unichain and Optimism, with others to comply with. Kraken launched kBTC in 2024 as a 1:1 bitcoin-backed token accessible first on Ethereum and OP Mainnet. The token now has a $260 million market capitalization, CoinGecko information exhibits.
CCIP will deal with the motion of Kraken’s wrapped belongings below the Cross-Chain Token normal. Kraken will proceed to subject and custody the belongings, the corporations stated.
Rival crypto alternate Coinbase (COIN) additionally chosen Chainlink CCIP final yr as the only bridge for about $7 billion in wrapped tokens.
Kraken’s father or mother firm, Payward, utilized this month for a federal belief constitution in a bid to turn into a federal crypto financial institution.
Learn extra: Kraken father or mother Payward seeks contemporary funding at $20 billion valuation forward of deliberate IPO