Kraken Acquires Staked

Kraken, a San Francisco, CA-based digital asset platform, acquired Staked, a NYC-based staking platform provider.

The amount of the deal was not disclosed.

Led by Tim Ogilvie, CEO, Seth Riney, CTO, and Jonathan Marcus, COO, Staked is a non-custodial staking platform that enables investors in Proof-of-Stake networks to securely compound their holdings. Its mission – to help investors earn yield from staking without relinquishing custody of their crypto assets – closely aligns with Kraken’s objective to provide secure access to staking products and services.

The acquisition solidifies Kraken’s position as a provider of staking services to consumers and institutions by expanding the number of supported networks and enabling a non-custodial alternative to its existing custodial staking service.

Founded in 2011 by Jesse Powell, CEO, Kraken is a global digital asset platform based on euro volume and liquidity. Globally, its client base trades more than 90 digital assets and 7 different fiat currencies, including GBP, EUR, USD, CAD, JPY, CHF and AUD. The company was one of the first exchanges to offer spot trading with margin, parachain auctions, staking, regulated derivatives and index services. It is used by over 8.5 million traders and institutions around the world and offers professional, round-the-clock online support. The company now has 2300+ employees.

Kraken markets can be monitored and traded through the Kraken iOS and Android apps, and through the Cryptowatch iOS, Android and Desktop apps. The company is backed by investors including Tribe Capital, SkyBridge, Hummingbird Ventures, Blockchain Capital, Digital Currency Group, among others.