PANews reported on May 14th that, according to CoinDesk, Kraken announced it will replace LayerZero with Chainlink's Cross-Chain Interoperability Protocol (CCIP) as its exclusive cross-chain infrastructure for wrapped assets, covering kBTC and more future wrapped assets. This migration involves over $3 billion in TVL, following a $292 million LayerZero-related cross-chain attack on Kelp in April.
Kraken stated that the migration will cover networks including Ink, Ethereum, Unichain, and Optimism. kBTC launched in 2024 and currently has a market capitalization of approximately $260 million. Coinbase has also previously selected Chainlink CCIP as the sole cross-chain bridge solution for approximately $7 billion worth of wrapped tokens.
