Kraken acquires Staked to offer Non-Custodial Crypto-Staking Services to Retail


Kraken, a California based digital asset platform, has recently secured a New York-based staking platform provider. The financial details of the deal was not undisclosed.

Staked, is founded by Tim Ogilvie. It is a non-custodial staking platform that enables the investors in Proof-of-Stake networks to securely compound their holdings.

Its mission is to help investors earn yield from staking without relinquishing custody of their crypto assets – which is closely aligned with Kraken’s objective to offer secure access to staking products and services.

Executive Opinion

Jesse Powell, CEO and co-founder of Kraken, 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. We’re excited to welcome Staked’s clients to Kraken and believe that they will benefit from access to our wider portfolio of products as they seek to broaden their engagement with digital assets."

Tim Ogilvie, CEO of Staked, said, "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."

Kraken's Staked acquisition deal

The acquisition will help Kraken to position itself as a provider of staking services to consumers and institutions. The Staked acquisition will also help Kraken in expanding the number of supported networks and enabling a non-custodial alternative to its existing custodial staking service.

Kraken was founded by Jesse Powell in the year 2011. It is a global digital asset platform based on euro liquidity and volume. Across the globe, its customer base trades more than 90 digital assets and 7 different fiat currencies, which include the AUD, USD, CAD, GBP, JPY, and CHF. 

The company was one of the first exchanges to provide spot trading with margin, staking, parachain auctions, index and regulated derivatives services.
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Udit Agarwal Opinions expressed by techsutram contributors are their own. More details

Udit Agarwal is a Digital Marketer and a Content Marketing Specialist, He enjoys technical as well as non-technical writing. His passion and urge for gaining new insights on gadgets, smartphones and technology has led him to Techsutram. He quenches his thirst for technology through his action oriented writing skills and a profound ability to stay up to date with latest industry trends.

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