Back

Kraken Picks Chainlink CCIP as Sole Cross-Chain System for kBTC

Kraken said Chainlink CCIP will be the only cross-chain provider for kBTC and future wrapped assets, citing enterprise-grade security certifications after a $292 million exploit tied to Kelp’s LayerZero bridge.

LINK

Fact Check
The CoinDesk article ('Kraken to replace LayerZero with Chainlink to bridge assets across blockchains', published 2026-05-14) directly and comprehensively confirms every element of the claim: (1) Kraken selected Chainlink CCIP as its exclusive/sole cross-chain system for kBTC; (2) this replaces LayerZero; (3) the trigger was a $292 million exploit tied to Kelp's LayerZero bridge; and (4) more than $3 billion in liquidity migrated away from LayerZero. The PANews X post independently corroborates the $3 billion migration figure. No conflicting evidence was found. The only minor nuance is that the claim says 'sole cross-chain system' while CoinDesk says 'exclusive,' which are equivalent. Confidence is high given a direct, detailed primary news report.
    Reference: 123
Summary

Kraken said Chainlink CCIP will become the sole cross-chain infrastructure for kBTC and future wrapped assets, replacing LayerZero. The exchange cited enterprise-grade security, specifically ISO 27001 and SOC 2 Type 2 certifications, while the move also followed last month’s $292 million exploit involving the Kelp LayerZero bridge. According to the provided information, the incident intensified scrutiny of cross-chain security, drew criticism of LayerZero’s response, and coincided with more than $3 billion in total value locked migrating away from LayerZero. With kBTC’s market capitalization at about $260 million, the decision underscores how security concerns can reshape liquidity flows and infrastructure choices in the wrapped-asset market.

Terms & Concepts
  • Chainlink CCIP: A cross-chain interoperability protocol that enables data and token transfers between blockchains through standardized messaging infrastructure.
  • Wrapped assets: Tokens representing an asset from another blockchain, allowing that asset to be used across multiple crypto networks.
  • TVL: Total value locked, a measure of the amount of crypto assets deposited in a protocol or ecosystem.