The famous exchange Kraken is diligently working on expanding the array of its services. On Tuesday, it announced that it acquired a staking platform called Staked to expand on the staking features.
This Deal Is One of the Largest Crypto Acquisition Events
Based on Kraken’s announcement, this acquisition is one of the most significant crypto industry acquisitions to date, even though the sum wasn’t disclosed.
Still, the acquisition of Staked places Kraken fifth on the list for 2021 and reinforces the company’s idea of becoming one of the best choices of crypto platforms for retail and professional investors.
With Staked’s infrastructure, Kraken can now develop new products for the entire customer base. Additionally, it can expand the number of Proof of Stake networks supported on the exchange.
What’s more, Kraken can now boost the non-custodial staking services and expand the portfolio of custodial products.
This acquisition could also mean that Kraken is becoming the leading ETH2 depositor. Currently, Kraken holds two out of five top spots by Ethereum deposited to the ETH 2.0 contracts. By adding Staked and its ETH2 pool, Kraken will further improve its position.
Kraken’s latest announcement also states that Staked is highly complementary to Kraken’s existing staking business. This acquisition will also help the exchange improve its service offering through world-class infrastructure for clients who want to keep custody of their staked assets.