Kraken Staking is Back: Unlock Massive Rewards on ETH, SOL, ADA & More

Key Takeaways

• Kraken reintroduces on-chain staking in 39 U.S. states, supporting 17 cryptocurrencies.
• Users can earn rewards by locking assets through Kraken Pro’s bonded staking system.
• The exchange plans to expand staking access as regulations permit.

Kraken has reopened its on-chain staking service to U.S. users, marking a key milestone after its regulatory settlement with the SEC. The relaunch enables residents in 37 states and two territories to stake 17 cryptocurrencies, including Ethereum, Solana, Polkadot, and Cardano.

The development comes in the wake of February 2023’s settlement by the exchange to cease its staking operations and pay a $30 million penalty. In a blow to its operations, however, the platform incorporated a new model of staking whose purpose is to comply with present laws and yet maintain its usability in its current form.

Source: Kraken

Bonded staking involves locking coins for a period, during which they secure a network for that period of time. Kraken entrusts such locked coins to validators for processing and creating blocks.

As a reward, payouts are shared by validators, and these pass through to users via the exchange with a fee removed. Staking will become supported in more states when environments in terms of legislation change, according to the platform.

Kraken Strengthens Blockchain Security Through Staking

Since its 2019 launch of on-chain staking, Kraken has played a significant role in securing proof-of-stake (PoS) networks. As one of the first platforms to introduce Ethereum restaking with it, it facilitated EigenLayer projects to have access to Ethereum’s secure model. With its new staking service, U.S.-based customers join in, in addition to worldwide customers who have long had such access.

Proof-of-stake remains one of the most widespread algorithms for consensus, with increased activity in staking. Stakers lend out assets to validate blockchain networks and receive passive rewards in return. With its re-release, U.S.-based users can secure networks and gain yields through staking again.

Regulatory Compliance and Future Expansion

As a gateway to the mainstream of crypto adoption, the platform gives users a secure way to bet by linking an environment that is familiar and secure. Kraken streamlines the process and increases blockchain integrity by delegating the assets to trustworthy validators.

Bringing staking back to Kraken is a clear indication of a convergence of the exchange sphere towards streamlining operations to meet regulatory standards, while still maintaining the main features for users.

The reintroduction of staking services is a crucial move forward for Kraken and the overall crypto market in the U.S. As new regulations are put in place for staking, Kraken’s strategy could be used as an example for other exchanges that want to remain compliant and still deliver useful services.

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