Kraken acquires Staked
Digital asset platform Kraken announces it has acquired non-custodial staking platform Staked for an undisclosed sum.
Staked enables investors in Proof-of-Stake networks to easily and securely compound their holdings. The acquisition expands the number of supported networks and enabling a non-custodial alternative to Kraken’s existing custodial staking service.
Jesse Powell, CEO and co-founder of Kraken, comments:
“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. We’re excited to welcome Staked’s clients to Kraken and believe that they will benefit from access to our wider portfolio of products as they seek to broaden their engagement with digital assets.”
Tim Ogilvie, CEO of Staked, adds:
“Kraken clearly shares our commitment to supporting proof-of-stake networks, having a security-first mindset, and unwavering focus on customer experience, which makes them an ideal partner. Combining our businesses will enable us to provide a more seamless experience and expand our product offering to meet our clients’ needs in staking and beyond.”
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 claims its combined spot, margin and futures trading volume has grown by over 430% in 2021.