Major cryptocurrency exchange Kraken has announced that it has bought blockchain infrastructure company and investment manager Staked for an undisclosed amount.
In a Tuesday announcement, Kraken, the crypto exchange targeting a $ 10 billion valuation, said it had added Staked to its portfolio of performance products after the acquisition. The company described the Staked deal as “one of the crypto industry’s largest acquisitions to date,” but did not disclose the amount.
According to the CEO of Kraken, Jesse Powell, Staked Users Will Have Access To Kraken’s Performance Product Portfolio. Staked CEO Tim Ogilvie cited the exchange’s “commitment to supporting proof-of-stake networks” as well as its track record of customer experience and security in his decision to go ahead with the deal.
As we gear up for 2022, Kraken is celebrating its continued growth and success with the expansion of its ‘staking’ tentacle through an acquisition of Staked.
Check out our blog for more details about this exciting deal! https://t.co/26WfBKqO3F pic.twitter.com/WP9pjjkueN
– Kraken Exchange (@krakenfx) December 21, 2021
As we prepare for 2022, Kraken celebrates its continued growth and success with the expansion of its staking tentacle through the acquisition of Staked.
Check out our blog for more details on this exciting offer!
The cryptocurrency exchange said its staking business had grown more than 950% since the beginning of the year to hit $ 16 billion in November. This may have been driven, in part, by vehicles in which to invest in Ether (ETH) and earn rewards.
Kraken has acquired several companies in recent years related to its staking business and others. Since 2017, the firm has purchased portfolio and accounting reconciliation service provider Interchange, Australian crypto exchange Bit Trade, and Cryptowatch, among others. Powell has also hinted that the exchange could go public before the end of 2022.
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