fbpx

Kraken Acquires Staked, Marking One of Largest Crypto Deals Ever

Kraken, a leading digital asset and crypto trading platform, announced its acquisition of non-custodial staking platform Staked. The details of the deal were not disclosed, but Kraken claims it’s one of the largest deals in the history of crypto.  

Staked allows users to stake various digital assets and earn interest but it allows investors to keep custody of the crypto in Proof-of-Stake networks to easily and securely compound their holdings. The acquisition solidifies Kraken’s position as a leading provider of staking services to consumers and institutions by expanding the number of supported networks and enabling a  non-custodial alternative to Kraken’s existing 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,” 

said Jesse Powell, CEO and co-founder of Kraken.

“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.”

Staked’s mission – to help investors earn yield from staking without relinquishing custody of their crypto assets – closely aligns with Kraken’s objective to provide seamless and secure access to staking products and services. By providing world-class infrastructure as a service, Staked removes significant barriers to entry while allowing clients to optimize rewards.

The acquisition of Staked – Kraken’s fifth acquisition in 2021 – is an important step in the company’s strategy to become the crypto portal of choice for both retail and professional investors. Kraken’s combined spot, margin and futures trading volume has grown by over 430% in 2021

EMAIL NEWSLETTER

Join to get the flipside of crypto

Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.

    You can always unsubscribe with just 1 click.

    This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

    Rate This Article
    In order to improve, we give you the opportunity to rate DailyCoin content
    Author

    Tor Constantino is a former journalist, consultant and current corporate comms executive with an MBA degree and 25+ years of experience - writing about cryptocurrencies and blockchain since 2017. His writing has appeared across the web on Entrepreneur, Forbes, Fortune, CEOWorld and Yahoo!. Tor's views are his own and do not reflect those of his current employer.