Kraken Exchange Acquires ‘Staked’ to Expand Its Custodial Staking Services

Kraken exchange announced that it has acquired Staked for an undisclosed sum to expand its custodial staking services.

According to the exchange, this represents “one of the largest crypto industry acquisitions to date.” Under this acquisition, Staked will serve as an alternative approach to expedite Kraken’s products and custodial staking services from now on. 

Moreover, this solidifies Kraken as an industry leader in terms of staking services for consumers and institutional satisfaction. By working with Staked, this synergy will push Kraken to its nagging reality to expand the number of its supported networks in the crypto market.

Kraken CEO Jesse Powell said,

“We are excited to add Staked to our portfolio of yield products, which has seen great uptake by a growing population of crypto investors. 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.”

He mentioned that they are happy to welcome Staked’s clients to Kraken to experience their service. Additionally, Powell said that they will treat the clients with high esteem as they work to broaden their portfolio for user-based engagement with a digital asset.

Staked CEO Tim Ogilvie expressed his excitement for Kraken:

“Kraken’s acquisition of Staked represents an exciting new chapter for us. 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.”