Kraken, one of the leading cryptocurrency exchanges, has announced plans to launch its own blockchain in 2025. The new initiative aims to expand the platform’s offerings and provide users with enhanced DeFi services, including staking, smart contracts, and token creation. This strategic move aligns Kraken with other major players in the crypto space, such as Binance and Coinbase, which have already developed their own blockchains to facilitate growth and innovation within their ecosystems.
Set to launch in early 2025, Kraken’s new blockchain, named Ink, will bring decentralized finance (DeFi) trading, borrowing, and lending of tokens directly onto its platform. This blockchain is designed to expand Kraken’s offerings and increase its footprint in the crypto space. Ink will integrate technology similar to Coinbase’s Base network, which launched in August last year, offering more seamless DeFi solutions for users.
Throughout 2024, the cryptocurrency sector witnessed significant milestones, such as Bitcoin becoming the first crypto-based ETF in the U.S., driving institutional interest from asset managers like BlackRock and Fidelity. As a result, the industry’s value and adoption surged. Kraken’s Ink blockchain will be another major step in enhancing crypto services and boosting overall market participation.
With Ink, Kraken aims to compete with other platforms by offering a comprehensive blockchain infrastructure, promoting further DeFi growth, and expanding its influence in the digital asset landscape.
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