Crypto News

Kraken takes over Staked to develop further staking products

The crypto business is booming and acquisitions across the board are evidence of the growth potential. Leading crypto exchange Kraken completed its fifth acquisition of the year, this time buying Staked – one Blockchain-Infrastructure company and investment manager.

The takeover was confirmed by Kraken at the last meeting as it brings Staked on board as part of its offering among income products. Although the exchange has not disclosed the exact amount it paid to acquire Staked, it said the transaction was “one of the crypto industry’s largest acquisitions to date.”

Following the acquisition, Staked users will now have access to Kraken’s range of income products. It will also allow all of the exchange’s customers to earn rewards from their crypto holdings, even if they are in complete control of their digital assets.

According to Saked CEO Tim Ogilvie, “Kraken’s acquisition of Saked is an exciting new chapter for us. Kraken clearly shares our commitment to supporting proof-of-stake networks, a safety-centric mindset, and an unwavering focus on the customer experience, which makes them an ideal partner. “

The acquisition of Staked will fuel Kren’s innovation in developing more staking products while focusing on fueling the growth of PoS networks on its platform. As the world moves on to more crypto use cases beyond enabling digital transactions, particularly the launch of DeFi and Web3 in the coming year, the exchange is working hard to transform itself into a holistic crypto platform that offers a wide range of products and services for private and institutional investors.

Source: Crypto News Deutsch

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