In one of the largest crypto industry deals to date, Kraken acquires Staked to support growth and resilience.

Staked is a non-custodial staking system that makes it simple and safe for investors in Proof-of-Stake networks to multiply their holdings.

By extending the number of connected systems and allowing a non-custodial option to Kraken’s existing custodial staking service, the purchase secures Kraken’s position as a leading provider of staking services to the customers and organizations.

“We’re delighted to add Staked to our array of yield products, which has experienced a lot of interest from a growing number of crypto investors,” said Jesse Powell, Kraken’s CEO and co-founder. “Staked is an excellent addition to our current staking company, allowing us to expand our product offering by providing world-class technology for customers who desire to keep possession of their staked assets.”

We’re happy to welcome Staked’s clients to Kraken, and we believe they’ll benefit from having access to our whole suite of solutions as they want to expand their cryptocurrency engagement.”

Staked’s ambition – to allow investors to earn income from staking without giving up custody of their crypto assets – is quite similar to Kraken’s goal of providing smooth and gain access to staking commodities.

Staked reduces large obstacles to access while allowing clients to maximize rewards by delivering world-class infrastructure as a service.

“The purchase of Staked by Kraken marks the beginning of an exciting new chapter for us,” stated Tim Ogilvie, CEO of Staked. “Kraken obviously shares our dedication to supporting proof-of-stake networks, as well as having a security-first philosophy and an unbroken emphasis on user experience, making them an excellent partner.”

By combining our companies, we will be able to deliver a more streamlined experience and enhance our product portfolio to satisfy the demands of our clients in staking and beyond.”

Staked is Kraken’s sixth acquisition in 2021, and it represents a key milestone in the company’s aim to become the crypto gateway of choice for both retail and professional investors. In 2021, Kraken’s aggregate spot, margin, and futures trading volume increased by more than 430 percent.

The firm’s staking operation has risen by more than 950 percent since the beginning of the year, reaching roughly $16 billion in November, culminating in token awards of more than $500 million being handed out to customers.

“The success of our staking business shows that Kraken has expanded into much more than a custodian and selling venue,” Powell added. “We’ve evolved into a comprehensive cryptocurrency platform with a varied selection of goods that cater to the demands of retail, professional, and institutional clients.” As we enter the second decade of our company’s history, I’m optimistic about the future and Kraken’s continuous support of the world’s transition to Web3 and DeFi.”

Kraken Facts:
Based on euro volume and liquidity, Kraken is the world’s largest global digital asset platform. Kraken’s global clientele trades over 90 digital assets and seven different fiat currencies, including GBP, EUR, USD, CAD, JPY, CHF, and AUD.

Kraken, which today employs over 2300 people, was created in 2011 and was one of the first markets to provide margin trading, parachain auctions, staking, licensed swaps, other index products. Over 8.5 million users and organizations use Kraken, which provides expert, round-the-clock online help.

The Kraken iOS and Android applications, as well as the Cryptowatch iOS, Android, and Desktop apps may be used to observe and operate Kraken marketplaces.

Please follow and like us:

Related Articles

Facebook
Twitter
Telegram