Tuesday, August 16, 2022

Cryptocurrency exchange Kraken acquires crypto staking platform Staked.

The Takeaway:

Cryptocurrency exchange Kraken announced the acquisition of Staked, a leading infrastructure platform that allows secure and non-custodial cryptocurrency staking.

Crypto platform Kraken announced the acquisition of Staked, a leading infrastructure platform that allows secure and non-custodial cryptocurrency staking. Kraken highlighted the growing population of cryptocurrency investors around the world and mentioned the need for an expanded portfolio of yield products. The crypto platform called the recent acquisition ‘one of the largest deals’ in the history of crypto. According to the company, the clients will be able to earn rewards on their cryptocurrency assets.

 

Kraken is planning to develop innovative staking products through the infrastructure of Staked.

Kraken is also planning to develop innovative staking products through the infrastructure of Staked. “We are excited to add Staked to our portfolio of yield products, which has seen great uptake by a growing population of crypto investors,” said Jesse Powell, CEO and Co-Founder of Kraken. “Staked is highly complementary to our existing staking business and will allow us to further strengthen our product offering through world-class infrastructure for clients who prefer to retain custody of their staked assets. We’re excited to welcome Staked’s clients to Kraken,” he added.

 

Kraken saw a surge in trading volumes in 2021

Kraken saw a surge in trading volumes and the total number of cryptocurrency users during 2021. As a result, the company introduced several initiatives to support the growing adoption of digital assets. Kraken Ventures secured $65 million to support crypto and financial technology innovation earlier this month. Crypto exchanges around the world have introduced several products to capture the growing market of cryptocurrency staking in 2021. Kraken aims to diversify its products and services through its latest acquisition. “The success of our staking business demonstrates that Kraken has evolved into much more than a custodian and trading venue,” said Powell.

Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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