Kraken announced the acquisition of Staked, a platform that allows people to stake cryptocurrency on their behalf without having to worry about losing coins. This is a way for investors and traders to earn reliable returns in addition to investing into crypto assets. Kraken will also be expanding its product offer with new altcoins integration as well as adding trading pairs from other exchanges.
Kraken gears up to expand its product offer and acquires staking platform Staked. Kraken is a cryptocurrency exchange that offers services such as trading, margin trading, and more. The company has recently acquired the staking platform Staked in order to provide their users with an opportunity to earn rewards for holding their coins on the platform.
Kraken just announced the purchase of Staked, a non-custodial staking platform that would expand the crypto exchange’s product offering.
The move will allow Kraken to extend the number of supported networks while also providing a non-custodial option to its present custodial staking service.
The’staking’ tentacle of the Kraken spreads forth.
Kraken’s sixth purchase of the year is non-custodial staking platform Staked, which enables investors in Proof-of-Stake networks to compound their holdings.
As we prepare for 2022, Kraken is celebrating its continuing development and success by acquiring Staked and expanding its’staking’ tentacle.
More information about this interesting transaction may be found on our blog. pic.twitter.com/WP9pjjkueN https://t.co/26WfBKqO3F pic.twitter.com/WP9pjjkueN
December 21, 2021 — Kraken Exchange (@krakenfx)
“We are delighted to add Staked to our array of yield products,” said Jesse Powell, CEO and co-founder of Kraken, adding that Staked is “very complimentary” to the exchange’s current staking business.
The move will not only allow Kraken to extend the number of supported networks, but it will also allow its clients to make a return on their crypto assets by staking.
“We’re delighted to welcome Staked’s customers to Kraken and think that, as they want to widen their involvement with digital assets, they’ll benefit from access to our broader variety of products,” Powell said.
“Kraken shares our dedication to supporting proof-of-stake networks, having a security-first approach, and maintaining an uncompromising emphasis on user experience, making them a perfect partner,” stated Tim Ogilvie, CEO of Staked.
Developing becoming a comprehensive cryptocurrency platform
Kraken’s purchase of Staked fits in with the company’s goal of being “the crypto gateway of choice” for both retail and professional investors.
The exchange’s total spot, margin, and futures trading volume has increased by nearly 430 percent this year.
Kraken’s staking business has grown by more than 950 percent since the beginning of 2021, reaching approximately $16 billion in November.
“The success of our staking business illustrates that Kraken has matured into much more than a custodian and trading venue,” Powell added, disclosing his plans for the exchange to expand into a “holistic crypto platform.”
“As we enter our company’s second decade, I’m thrilled about the future and Kraken’s continuous support of the world’s migration to Web3 and DeFi,” he said.
Kraken’s CEO has hinted at the possibility of the exchange developing its own NFT marketplace in the near future.
Newsletter
The most relevant daily news in the worlds of crypto, DeFi, NFTs, and more are summarized here.
Gain a competitive advantage in the cryptoasset market.
As a premium Edge member, you’ll get additional crypto insights and context in every story.
Analyses of the whole chain
Snapshots of prices
a little more context
For just $19 a month, you can become a member right now. Examine all of the advantages.
Watch This Video-
Kraken gears up to expand its product offer and acquires staking platform Staked. Kraken is a cryptocurrency exchange that allows users to trade cryptocurrencies, bitcoin, Ethereum, Monero, etc. Reference: kraken eth staking review.
Related Tags
- kraken staking fees
- binance staking
- kraken staking reddit
- safest way to stake crypto
- what are the risks of staking