The deal offers more options for Kraken users who want to manage their own money.
The popular cryptocurrency exchange Kraken announced today that it has completed the acquisition of Staked, a blockchain infrastructure platform that enables secure, low-cost and non-custodial crypto staking.
The deal will enhance Kraken’s current rewards programs and allow customers to earn incentives without giving up control of their digital assets.
While the platform called the deals “one of the largest in the history of crypto,” the exact amount spent on the acquisition remains unknown. The inclusion of Staked in the portfolio of return products offered by Kraken is in line with its goal of achieving a valuation of $ 10 billion.
Staked has been strongly embraced by a growing number of crypto investors, said Jesse Powell, CEO and co-founder of Kraken:
“Staked is an excellent addition to our existing staking business and will allow us to further strengthen our product offering through a world-class infrastructure for customers who prefer to keep their staked assets safe. We are pleased to welcome Staked’s customers in Kraken.“
The acquisition represents a new chapter for Staked, CEO Tim Ogilvie said. He added that the joint commitment of the two companies to the promotion of proof-of-stake networks, security thinking and consistent focus on the customer experience make the deal ideal.
The deal also offers more options for Kraken customers who believe in the “not your keys, not your coins” philosophy to manage their funds and keep their cryptos safe. Staked’s world-class staking infrastructure will also allow Kraken to participate in the development of innovative staking products to expand and expand the number of proof-of-stake networks offered on the platform.
The success of Kraken’s staking business has shown that the company is more than just a trading venue, Powell said. The company aims to develop into a holistic crypto platform with a diverse range of products for private, professional and institutional customers, the CEO concludes.