Kraken Unveils kHYPE, a Wrapped Token for Cross-Blockchain Utility

Kraken has introduced kHYPE, a fully backed, cross-network-compatible ERC-20 token that represents an equivalent amount of HYPE. This wrapped token is held securely in Kraken's custody and can be verified onchain by clients at any time.

kHYPE transforms HYPE's utility by allowing it to integrate seamlessly into the Ink network, with plans to extend compatibility to additional networks in the future.

Developers can now build with kHYPE in their decentralized applications (dApps), while holders can use it in DeFi in the same way they'd use HYPE elsewhere. kHYPE is available at launch on Ink and provides added security through Kraken's 15+ years of expertise and infrastructure.