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Mapping Out Kraken’s Acquisitions & Investments

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May 25, 2022, 2:59PM EDT • 7 min read Quick Take Based in San Francisco, California, Kraken is one of the longest operating cryptocurrency exchanges, co-founded by Jesse Powell in 2011. The exchange has been one of the most active participants in Crypto M&A with 12 acquisitions In February 2021, Kraken established Kraken Ventures, an independent venture fund that has made at least 20 investments across the crypto ecosystem Join The Block Research for exclusive research like this Gain access …

Kraken opens waitlist for forthcoming NFT platform

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Crypto exchange Kraken has opened the waitlist for its non-fungible token platform. Rumblings of a Kraken NFT platform first began in December of last year, when a spokesperson told The Block that Kraken would begin offering NFT services in the very near future. Today, the firm announced some of those services in a blog post today, saying Kraken NFT will be a “complete solution for exploring, curating and securing your NFT collection.”  The idea is to create a seamless integration …

Abu Dhabi grants Kraken license to operate crypto exchange

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Kraken has become the first crypto exchange to be granted a license to operate a regulated digital assets platform in Abu Dhabi as the Middle East becomes a focus of expansion for the industry. The exchange will count Abu Dhabi as its regional hub, having had its license granted by the Abu Dhabi Global Market (ADGM), the regulatory body said in a release on Monday.  The exchange will allow its more than 8 million global users to invest, trade, withdraw …

Kraken to release structured products for staking focused on institutional investors

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Crypto exchange Kraken is planning to release structured products focused on staking as part of a bid to enhance its existing offerings for institutional clients. Kraken acquired a staking company called Staked late last year to move into the burgeoning market. The company is now seeking to combine its staking prowess with the trading services provided by its main exchange. In an interview, Tim Ogilvie, head of Staked at Kraken, told The Block that the company will introduce structured products …

Crypto exchange Kraken brings in new CFO to lead ‘next growth phase’

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Crypto exchange Kraken has brought in fintech veteran Carrie Dolan as its new CFO, in a move it says will mark the company’s next growth phase.  Dolan joins from Tradeshift, a digital payments and trade finance platform, and replaces Kaiser Ng who had held the position for the past five years, according to a statement on Tuesday.  Before Tradeshift, Dolan had worked in leadership positions at Lending Club, Metromile, Charles Schwab and Chevron. At Lending Club, she managed its 2014 …

Canada Protests: Kraken CEO says consider taking crypto off exchanges

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Crypto exchange Kraken CEO Jesse Powell said today that any users concerned about governments seizing their crypto without judicial approval should take their funds off crypto exchanges — including his own. The comments were made in the context of the Canadian government freezing the bank accounts and crypto wallets of truckers protesting against Covid-19 rules — and even threatening to take their dogs under certain conditions. In response to a comment that crypto exchanges will likely freeze people’s crypto at the …

Kraken CEO says forthcoming platform will enable NFT-collateralized loans

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Kraken CEO Jesse Powell says the exchange’s forthcoming non-fungible token (NFT) platform will provide services to allow customers to extract additional value from their collectibles. Powell told Bloomberg News that Kraken plans to offer custody services for NFTs, as well as the ability to use NFTs as collateral for loans.  Powell called the functional use of NFTs, such as NFT-collateralized loans, “phase three” of the growing ecosystem for digital art and collectibles. Phase one was speculation and phase two was …

Crypto exchange Kraken acquires staking startup Staked

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On Tuesday, crypto exchange service Kraken announced that it had acquired Staked, a non-custodial staking startup. Though details of the acquisition deal were not disclosed in the announcement, Kraken said that the acquisition was “one of the largest crypto industry acquisitions to date” and would help the exchange company “develop innovative new staking products for all our clients and expand the number of proof-of-stake networks supported on our platform.” “We are excited to add Staked to our portfolio of yield …

Kraken is launching an NFT platform ‘in the very near future’

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Crypto exchange Kraken is working on a platform to support non-fungible tokens (NFTs).  “NFTs are a fast-moving space and we are excited to begin offering services in this field in the very near future,” a Kraken spokesperson told The Block.  It is not clear which specific NFT services Kraken will offer, but the spokesperson said the exchange will help take some of the NFT activity “off-chain, which would help keep both minting and transaction fees down to a minimum.” Earlier …