Crypto Exchange Kraken Acquires Staking Platform Staked
Kraken has acquired non-custodial staking platform Staked to enable an alternative to its own custodial staking service, the crypto exchange announced Tuesday.
Kraken referred to the deal as “one of the largest crypto industry acquisitions to date” but did not disclose the amount paid.
Stake’s non-custodial staking service enables users to earn yield from staking without giving up custody of their assets. This is a complement to the custodial staking service already offered by Kraken.
The acquisition is Kraken’s fifth of 2021, a year which has seen its staking business grow by around 950% to nearly $16 billion, according to today’s announcement.
Staked CEO Tim Oglivie confirmed to CoinDesk that the whole team would continue to be a part of the business under Kraken’s ownership.Source