Kraken, a preferred crypto exchange and blockchain asset platform, right now introduced it has acquired Staked for an undisclosed sum. Staked is a non-custodial staking platform that permits traders in Proof-of-Stake networks to compound their holdings with ease.
For Kraken, this acquisition bolsters its staking providing by increasing the variety of supported networks and enabling a non-custodial different to Kraken’s current custodial staking service.
“We are excited to add Staked to our portfolio of yield products, which has seen great uptake by a growing population of crypto investors,” mentioned Jesse Powell, CEO, and co-founder of Kraken. “We’re excited to welcome Staked’s clients to Kraken and believe that they will benefit from access to our wider portfolio of products as they seek to broaden their engagement with digital assets.”
The Kraken crew reviews that its mixed spot, margin, and futures buying and selling quantity has grown by over 430% in 2021. Also, because the begin of the 12 months, Kraken’s staking enterprise has grown by greater than 950% to close $16 billion in November, leading to token rewards valued at greater than $500 million paid out.
“Kraken’s acquisition of Staked represents an exciting new chapter for us,” mentioned Tim Ogilvie, CEO of Staked. “Kraken clearly shares our commitment to supporting proof-of-stake networks, having a security-first mindset, and unwavering focus on customer experience, which makes them an ideal partner. Combining our businesses will enable us to provide a more seamless experience and expand our product offering to meet our clients’ needs in staking and beyond.”