Cryptocurrency alternate Kraken introduced on Tuesday that it had acquired non-custodial staking platform Staked to increase on its array of staking merchandise.
The staking platform was acquired for “an undisclosed sum” based on Kraken, who went on to say that the deal was “one of many largest crypto business acquisitions so far”.
The acquisition of Staked marks Kraken’s fifth in 2021, and reinforces the businesses technique of changing into the “crypto portal of alternative for each retail {and professional} buyers”.
As we gear up for 2022, Kraken is celebrating its continued progress and success with the growth of its ‘staking’ tentacle by means of an acquisition of Staked.
🥳 Try our weblog for extra particulars about this thrilling deal! https://t.co/26WfBKqO3F pic.twitter.com/WP9pjjkueN
— Kraken Alternate (@krakenfx) December 21, 2021
Staked’s current staking infrastructure now permits Kraken to develop new merchandise for its complete buyer base and in addition increase the variety of proof-of-stake networks supported on the alternate.
As well as, it permits the alternate to bolster its non-custodial staking choices and diversify its current array of custodial merchandise.
The acquisition might additionally sign the alternate’s bid to change into the main ‘ETH2’ depositor. Kraken already holds two of the five top spots by Ethereum deposited to the ETH 2.0 contract and with the addition of Staked’s current ‘ETH2’ pool, it’ll additional bolster its already hefty place.
“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,” mentioned Jesse Powell, CEO and co-founder of Kraken.
“Staked is very complementary to our current staking enterprise and can enable us to additional strengthen our product providing by means of world-class infrastructure for purchasers preferring to retain custody of their staked belongings.
“We’re excited to welcome Staked’s purchasers to Kraken and consider that they’ll profit from entry to our wider portfolio of merchandise as they search to broaden their engagement with digital belongings.”
Disclaimer: The views and opinions expressed by the writer shouldn’t be thought of as monetary recommendation. We don’t give recommendation on monetary merchandise.
