Kraken Acquires Staking Firm Staked For Undisclosed Amount

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Last Updated on 23 December 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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The cryptocurrency exchange Kraken announced its acquisition of Staked, a crypto staking platform that specializes in providing people with access to proof-of-stake (PoS) networks.

This is the fifth acquisition by the fourth largest crypto exchange in terms of reserves. Although the amount involved in the deal was not disclosed, Kraken describes it as:

One of the largest crypto industry acquisitions to date.

Staked is a non-custodial staking services provider for crypto investors. The platform connects investors with staking opportunities and DeFi where they can profit without taking custody of their funds.

Advertentie.

Staked to boost Kraken’s staking business

Crypto staking is becoming a widely popular venture, especially as many cryptocurrencies are now using the Proof-of-Stake algorithm. The second largest cryptocurrency by market cap, Ethereum is also in the process of adopting this algorithm, claiming it is more efficient and less energy consuming. Check out how to stake Ethereum.

Kraken seems poised to explore this booming aspect of cryptocurrency and acquiring Staked will help it to achieve its goals in the area, according to Jesse Powell, the CEO and co-founder of Kraken.

He said:

We are excited to add Staked to our portfolio of yield products, which has seen great uptake by a growing population of crypto investors. 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.

Kraken is one of the top cryptocurrency exchanges by trading volume and one of the oldest. The exchange also has a reputation as the only exchange that has never been hacked. Indeed, Staked acquisition could go a long way in expanding its reach, especially as it has such a good reputation with customers’ funds.

Staked provides  staking services to institutional clients, including crypto and venture funds, exchanges and custodians as well as traditional investors and allocators. Assets available for staking include:

It is currently not possible to register a new account.