Kraken, one of the leading Euro area exchanges, resumes staking for selected US clients. This comes after discontinuing the service in 2023 due to regulatory demands and is now made possible by changes in SEC regulations.
Changes in Kraken Staking
Kraken is bringing back staking services to 37 US states and 2 territories, initially available to KrakenPro clients. Assets will be sent to validators for securing networks including Ethereum, Cardano, and Polkadot. Mark Greenberg, Kraken's Global Head of Consumer, stated, 'Launching this new staking product in the U.S. is an overwhelmingly positive development, not just for Kraken but also for the entire U.S. crypto space.'
Kraken Pay Expansion
Kraken expands its crypto presence with the new Kraken Pay service, offering international payments across 300 fiat and crypto assets. The app provides unique Kraktag handles, simplifying the process of sending and receiving funds.
Kraken's Future in Crypto Market
Kraken remains one of the top 20 centralized exchanges, with $46.88B in trading volume over the past 30 days. The company continues to grow, providing token trading, lending, and smart contract platforms through its Ink L2 network. It plays a pivotal role in stablecoin trading.
Kraken's resumption of staking services and launch of new products like Kraken Pay highlight its ongoing development in services for global clients. Adapting to regulatory changes, the company aims to meet the evolving needs of its user base.
