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Kraken to Allow a New Way to Earn Crypto Rewards With Staked Acquisition

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Kraken is thrilled to announce that we have acquired Staked, an infrastructure platform that allows for secure, cost-effective, and non-custodial crypto staking.

One of the largest deals in the history of crypto, this acquisition perfectly complements our existing custodial staking offering, enabling all of our clients to earn rewards on their crypto while retaining complete control over their digital assets.

“We are excited to add Staked to our portfolio of yield products, which has seen great uptake by a growing population of crypto investors,” said Jesse Powell, CEO and co-founder of Kraken. “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.”

“Not your keys, not your coins,” is a common saying in crypto. As a leader in providing best-in-class security, access and service for digital assets on our platform, we don’t subscribe to that philosophy. But, we do respect and support our clients who do – and their right to retain custody over their crypto. With this acquisition, our clients now have more options on how they choose to manage their funds when staking with Kraken.

“Kraken’s acquisition of Staked represents an exciting new chapter for us,” said Tim Ogilvie, CEO of Staked. “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.”

Staked’s best-in-class staking infrastructure will enable Kraken to develop innovative new staking products for all our clients and expand the number of proof-of-stake networks supported on our platform.

“The success of our staking business demonstrates that Kraken has evolved into much more than a custodian and trading venue,” said Powell. “We’ve become a holistic crypto platform with a diverse range of products that serves the needs of retail, professional, and institutional clients. Heading into the second decade in our company’s history, I’m excited about the future and Kraken’s continued support of the world’s shift to Web3 and DeFi.”

Learn more about staking and start earning rewards on your crypto today, with Kraken.

Read the full press release.

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