Share this article
Wrapped BTC, ETH Coming to Kadena's Decentralized Exchange
Tokensoft is wrapping bitcoin and ether so traders can access them on any one of Kadena’s chains.
Updated Sep 14, 2021, 12:16 p.m. Published Feb 24, 2021, 2:00 p.m.
Tokensoft is bringing its Wrapped project to the Kadena network – starting with tokenized versions of bitcoin and ether.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Wrapped was launched in October 2020 with wrapped zcash (WZEC), bringing the privacy coin onto Ethereum and into the world of decentralized finance (DeFi). Tokensoft adapted the playbook of BitGo following the runaway success of the crypto custodian’s wrapped bitcoin (WBTC) token. (Anchorage, the custodian turned crypto bank, holds wrapped assets on Tokensoft’s behalf.)
Wrapped versions of bitcoin and ether on Kadena are meant to kick-start use cases for Kadena’s multi-protocol decentralized exchange (DEX), Kadenaswap.
“A lot of DEXs focus on the highest possible liquidity and these are obviously very liquid tokens,” said Kadena CEO Stuart Popejoy.
See also: Wrapped Bitcoin ‘Burns’ Outpaced Minting for the First Time in December
As for Tokensoft, CEO Mason Borda said Kadena could act as a “high-throughput settlement layer” for wrapped assets.
“What we really liked about Kadena is just the multi-chain [structure] which allows it to be very high throughput,” Borda said. “It is also acting as a hub between different blockchains.”
More For You
L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.
What to know:
2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.
This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.
More For You
Altcoins outpace bitcoin as precious metals' historic rally keeps macro focus sharp
Altcoins posted broader gains in quiet Sunday trading as bitcoin held a tight range near $88K and analysts weighed crypto against the surge in precious metals.
What to know:
- XRP, dogecoin and solana outperformed bitcoin and ether over the past 24 hours in thin weekend trading.
- Analysts said bitcoin remains range-bound between roughly $86,500 and $90,000.
- Glassnode flagged spot price sitting near one on-chain mean while remaining well below short-term holders’ cost basis.
Top Stories
