In Brief:
- Kraken, today announced it has acquired ‘Staked’ for non-custodial crypto staking.
- The deal involved an undisclosed sum and is considered to be one of the largest crypto deals till date.
- Kraken will now be a holistic crypto platform for retail, institutional and professional investors.
Kraken, one of the world’s largest crypto exchange platforms, today announced it has acquired ‘Staked’ for non-custodial crypto staking.
The deal which involved an undisclosed sum is considered to be ‘one of the largest crypto industry accessions’ till date.
Kraken, which already provides custodial staking offering, will now be able to provide non-custodial crypto staking that enables all of their clients to earn rewards on their crypto while retaining complete control over their crypto assets.
Thus, Kraken’s clients now have more options on how they choose to manage their funds when staking with Kraken and can optimize their rewards, thanks to this acquisition.
On this accession, Jesse Powell, CEO and co-founder of crypto exchange Kraken said, “The success of our staking business demonstrates that Kraken has evolved into much more than a custodian and trading venue. Heading into the second decade in our company’s history, I’m excited about the future and Kraken’s continued support of the world’s shift to Web3 and DeFi.”
This new acquisition will position Kraken as a holistic crypto platform for retail, institutional and professional investors. Interestingly, Kraken’s margin, combined spot, and also its futures trading volume has grown by over 430% in 2021.
Since the beginning of the year, the company’s staking business saw a growth of more than 950% to nearly $16 billion in November, as per Jeremy Welch, Kraken’s CPO. As a result, token rewards were also valued at more than $500 million being paid out to clients.
Kraken is one of the world’s largest digital currency exchanges and has recently launched a mobile App for its US customers.
