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Kraken Explores Launching Its Own Blockchain, Entering into Strategic Partnerships

Key Points:

  • The crypto exchange Kraken is considering launching its own blockchain.
  • Kraken is in talks with key players such as Polygon, Matter Labs, and the Nil Foundation.
  • The launch of a native blockchain would strengthen Kraken’s presence in the ecosystem.

Kraken, one of the most renowned cryptocurrency exchanges, is preparing to take a significant step forward. Inspired by the moves made by its competitor Coinbase, Kraken is considering launching its own layer 2 blockchain.

Strategic Partnerships on the Horizon

Kraken is currently in talks with prominent players such as Polygon, Matter Labs, and the Nil Foundation to form a partnership for the launch of its layer 2 solution.

The goal is to leverage their technological expertise in building this brand new infrastructure.

However, it is important to note that discussions are still ongoing and the outcome remains uncertain.

We are always looking to identify and address new challenges and opportunities in the industry”[…] “We have nothing else to share at this time.

a spokesperson for Kraken stated

Towards Services Expansion

The introduction of a layer 2 blockchain by Kraken could potentially pave the way for new services and expand its current operations.

By following in the footsteps of Coinbase, which has already launched its own layer 2 solution named Base, Kraken could not only diversify its revenue sources, but also strengthen its presence as a blockchain builder.

This reflects the growing trend among crypto exchanges to explore beyond their traditional exchange services, seeking to innovate and offer cutting-edge technology solutions.

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