Kiln Raises $17 Million in Funding:
The institutional staking platform Kiln has recently announced the closing of a $17 million funding round. Led by 1kx and supported by key players such as IOSG, Crypto.com, and Wintermute Ventures, this funding will allow Kiln to strengthen its presence on the global stage.
“Today’s announcement demonstrates our commitment to developing our institutional staking platform, and we are excited to be joined by leading investors in the digital assets space, ready to help us achieve our goals,” said Laszlo Szabo, CEO and Co-founder of Kiln.
The raised funds will primarily be used for the global expansion of the company, with a particular focus on developing its presence in the Asia-Pacific region. Another major milestone in this expansion is the planned opening of Kiln’s headquarters in Singapore in the first quarter of 2024.
In addition to its expansion efforts, Kiln plans to enhance its platform by integrating various DeFi reward mechanisms.
A Remarkable Rise for Kiln
Over the past 12 months, Kiln has experienced significant growth, positioning itself as one of the largest institutional staking platforms in the market. This ascent is exemplified by the fivefold increase in its total staked funds on the platform. Kiln has also distinguished itself by becoming the largest Ethereum validator node operator, according to Rated.
Furthermore, strategic partnerships have been established with major players such as Ledger Live, Crypto.com, and Coinbase in recent months. These collaborations have facilitated the creation of pooled staking services, allowing all ETH holders, regardless of the amount held, to stake their tokens.
The leaders of Kiln and its partners have expressed their enthusiasm and confidence in the platform’s potential. Laszlo Szabo, CEO and Co-founder of Kiln, highlighted the alignment of these initiatives with the company’s mission to democratize value creation in the digital assets ecosystem. Similarly, Christopher Heymann, founding partner at 1kx, recognized Kiln as a leader in providing secure staking solutions.
