Kraken, a well-liked crypto alternate and blockchain asset platform, at present introduced it has acquired Staked for an undisclosed sum. Staked is a non-custodial staking platform that permits buyers 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’re excited so as to add Staked to our portfolio of yield merchandise, which has seen nice uptake by a rising inhabitants of crypto buyers,” stated Jesse Powell, CEO, and co-founder of Kraken. “We’re excited to welcome Staked’s purchasers to Kraken and imagine that they may profit from entry to our wider portfolio of merchandise as they search to broaden their engagement with digital property.”
The Kraken group stories that its mixed spot, margin, and futures trading volume has grown by over 430% in 2021. Additionally, for the reason that 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 thrilling new chapter for us,” stated Tim Ogilvie, CEO of Staked. “Kraken clearly shares our dedication to supporting proof-of-stake networks, having a security-first mindset, and unwavering give attention to buyer expertise, which makes them a super associate. Combining our companies will allow us to supply a extra seamless expertise and develop our product providing to fulfill our purchasers’ wants in staking and past.”