Kraken announced last Tuesday, December 21, through its Twitter account, that it has acquired Staked “in one of the largest crypto offerings of all time”. The company explained that with the agreement, Kraken takes an important step towards becoming the crypto ecosystem of choice for retail and professional investors.
According to the company, one of the most significant offerings in cryptocurrency history, this acquisition perfectly complements its existing custodial participation offering, allowing all clients to earn rewards for their cryptocurrencies while retaining full control over their digital assets.
“We are excited to add Staked to our portfolio of performance products, which has been widely accepted 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 a world-class infrastructure for clients who prefer to retain custody of their staked assets. We are excited to welcome Staked customers to Kraken”.
Tim Ogilvie, CEO of Staked commented that “the acquisition of Staked by Kraken represents an exciting new chapter for us (…) Kraken clearly shares our commitment to supporting proof-of-stake networks, having a safety first mindset and an unwavering focus on customer experience, which makes them an ideal partner”.
In his view, Staked’s improved stakeholder infrastructure will allow Kraken to develop innovative new stakeholder products for all our customers and expand the number of proof-of-stake networks supported on our platform.
“The success of our participation business demonstrates that Kraken has become much more than a custodian and a venue”, Powell said. “We have developed into a holistic crypto platform with a wide range of products that meets the needs of retail, professional and institutional clients. As we enter the second decade of our company’s history, I am excited about the future and Kraken’s continued support in changing the world to Web3 and DeFi”.