Kraken, one of the largest cryptocurrency exchanges in the world, has just announced another acquisition. This time, cryptocurrency staking platform Staked is coming under its wing.
An offer for everyone
Kraken is one of the leading brands on the crypto exchange market. It has more than 8.5 million investors trading on it, with more than 90 different assets on offer. The exchange also offers support to individual networks through staking. It is in this aspect that it has decided to expand its capabilities by acquiring Staked, a platform dedicated to this purpose. The amount of the acquisition is not known.
“Kraken clearly shares our commitment to supporting Proof of Stake networks, our focus on security and our unwavering focus on customer service, which makes it an ideal partner. (…) Combining our businesses will allow us to provide a more seamless experience and expand our product offering to meet our customers’ staking needs and beyond.” – concludes Tim Ogilvie, CEO of Staked.
As it turns out, the acquisition will not affect the structure of Staked and the employed employees along with the management team will remain in their positions. This underscores the professionalism of the acquisition while taking care of the customer by maintaining the quality of service at a consistently high level.
Kraken CEO Jessie Powel comments on the acquisition as follows:
“We have become a holistic cryptocurrency platform with a diverse range of products that cater to retail, professional and institutional customers. As we enter the second decade in our company’s history, I am excited about the future and Kraken’s continued support of the global transition to Web3 and DeFi.”
Kraken refuses to be left behind
With the rapid growth of Coinbase and Binance as its main competitors, Kraken has no intention of being left behind. Thus, the acquisition of Staked is already the fifth such operation of the exchange this year. Over the past few years, Kraken’s portfolio has included companies such as Bit Trade, Circle Trade, CryptoFacilities, and CryptoWatch. Kraken’s evolution aims to provide investors with more opportunities than just trading. This gives the exchange a chance to play an important and equal role in the battle for customers.
If you are not yet familiar with the Kraken exchange, we invite you to read our publications about the platform. Use the magnifying glass in the upper right corner to find the content you are interested in and learn more. For example, in the article titled “How to buy XRP?” you will learn how to create an account on Kraken exchange and how to use it. Enjoy the read!