Kraken acquires a staking crypto platform to expand its services

Kraken acquires a staking crypto platform to expand its services

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Answer Kraken acquires a staking crypto platform to expand its services

Kraken is ramping up its growth in the crypto arena.

After a successful year, the US cryptocurrency exchange decided to close 2021 with the acquisition of the crypto platform “Staked”, which will expand its crypto-collecting capabilities and improve the quality of its services in general.

“Staked” is a decentralized crypto storage platform, which facilitates secure storage of assets while providing investors with attractive returns options.

Logical acquisition:

According to general information posted it The Kraken team, the “Staked” platform has been acquired for an undisclosed amount, and the “Staked” customers will now become Kraken’s customers across the board.

That is, instead of running several projects in parallel, Kraken will condense all services on its platform.

Read:BlackRock CEO: Russia-Ukraine War Could Boost Crypto Adoption

Kraken CEO and co-founder Jesse Powell was very optimistic about the acquisition and said the move could be strategic for the future of the platform, commenting:

We are excited to add Staked to our portfolio of yielding products, which have already seen an overwhelming response from a growing number of cryptocurrency investors.

Staked is highly complementary to our existing staking business and will allow us to enhance our product offering with a world-class infrastructure for clients who prefer to hold their assets.

While Steven CEO Tim Ogilvy commented about the acquisition as follows:

The union makes sense because both parties share similar goals.

After the acquisition, users will greatly benefit from the “Stacked” options and other services they can access, thanks to Kraken’s technologies.

Kraken is positioning itself as a major player in the US staking market.

For example, digital company Galaxy acquired cryptocurrency custody service BitGo in May and Coinbase launched the quota service in 2020.

While the most important growth factor for the leading US platform was undoubtedly its public listing.

Kraken also hinted at her interest in following the Queen Piece path and appearing to the public at large.

Read:Bibox Announces Acquisition of a Decentralized Trading Platform

The CEO of Kraken has previously stated that he is considering the idea of ​​coordinating an IPO rather than a direct listing.

Powell explained this during an interview with Fortune magazine, saying:

The IPO looks more attractive in light of the performance of the direct listing.

I’d say we’re looking at it more seriously now, and benefit from seeing how the Coinbase live public offering has fared.

Read also:

The founder of Twitter explains the reason for his absolute belief in Bitcoin and his disregard for Ethereum!

Cryptocurrency exchange “BitMEX” launches its own digital currency…Details here

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