Cryptocurrency exchange Kraken now allows its customers to deposit tBTC tokens on the platform. According to an official announcement, users can deposit TBTC on Kraken, Kraken Pro, and OTC.
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Users can trade four TBTC trading pairs on Kraken: TBTC/USD, TBTC/EUR, TBTC/XBT, TBTC/ETH. The token developers say it takes approximately 30 confirmations (~ six minutes) before deposits credit.
tBTC is a token which is backed 1:1 by bitcoin (EXANTE: Bitcoin), but operates on the Ethereum blockchain. This is the first application built on the Keep Network.
The tBTC project has been officially launched in September 2020. The project is based on threshold ECDSA, which is audited and in use on wallets and exchanges. Users can convert TBTC to BTC at a rate of 1:1, and vice-versa with no intermediary needed to sign off.
The project already has three audits by ConsenSys, Trail of Bits and Sergei Delgado.
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