Kraken will replace LayerZero with Chainlink CCIP as the cross-chain infrastructure

According to CoinDesk, Kraken announced that it will use Chainlink's cross-chain interoperability protocol CCIP, replacing LayerZero as the exclusive cross-chain infrastructure for its wrapped assets, covering kBTC and more wrapped assets in the future. This migration involves over $3 billion in TVL, following a $292 million LayerZero-related cross-chain attack incident that occurred in April. Kraken stated that the migration will cover networks such as Ink, Ethereum, Unichain, and Optimism. kBTC is set to launch in 2024, with a current market value of approximately $260 million. Coinbase had previously also chosen Chainlink CCIP as the sole cross-chain bridge solution for about $7 billion in wrapped tokens.