Why does Kraken call BTC XBT?

The acronym "XBT" stems from the International Standards Organization (ISO), a global authority responsible for cataloging internationally recognized currencies.

The ISO's standardized guidelines dictate a specific naming convention for currencies that are not tied to a specific nation. For such currencies, the prefix "X" is utilized as a distinguishing mark.

In the case of Bitcoin, which operates independently of any single government or central bank, the ISO assigned it the designation "XBT."

This nomenclature serves to distinguish Bitcoin from traditional fiat currencies, which typically begin with the ISO code of the country they represent, such as "USD" for the United States Dollar.

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