Just In: Kraken Brings Blockchain Staking Back to U.S. Customers

In a major move for the U.S. crypto market, Kraken, one of the oldest and most trusted cryptocurrency exchanges, has reintroduced blockchain staking products for U.S. clients. This shift comes as the market begins to recover and gain momentum after a period of stagnation.

Exciting news, right? Here’s all you need to know.

Staking Now Available in 37 States and Territories

Starting today, Kraken is offering U.S. customers in 37 states and two territories the ability to securely stake tokens via Kraken Pro. This new staking product lets users support blockchain networks by locking up their crypto assets for a set time in a process called “bonded staking.”

Kraken also plans to expand its staking offerings to more states as regulations allow, giving even more customers the opportunity to get involved in blockchain security.

But Security Comes First

Clients in eligible states can now stake 17 popular cryptocurrencies, including Ethereum (ETH), Solana (SOL), Polkadot (DOT), and Cardano (ADA). Kraken will also offer restaking integration, allowing users to help support Ethereum’s security by participating in projects built on the network.

To keep users’ assets safe kraken kraken - [email protected] Centralised ExchangeDecentralised Exchange has taken additional security steps, including third-party insurance for all staked assets. This provides an extra layer of protection for those taking part in staking.

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Easing Regulations for More Growth

The reintroduction of staking comes at a time when U.S. regulations are starting to shift. With former President Donald Trump Donald Trump Donald Trump is an American former president politician, businessman, and media personality, who served as the 45th president of the U.S. between 2017 to 2021. Trump earned a Bachelor of science in economics from the University of Pennsylvania in 1968. Trump won the 2016 presidential election as the Republican Party nominee against Democratic Party nominee Hillary Clinton while losing the popular vote. As president, Trump ordered a travel ban on citizens from several Muslim-majority countries, diverted military funding toward building a wall on the U.S.–Mexico border, and implemented a family separation policy. Trump has remained a prominent figure in the Republican Party and is considered a likely candidate for the 2024 presidential election President back in office, regulations on crypto, especially from the SEC, are becoming less strict. This change follows a difficult period for Kraken when it had to suspend its staking service for U.S. customers in February 2023. The company paid $30 million to settle SEC charges related to unregistered securities.

“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,” emphasized Mark Greenberg, Kraken Global Head of Consumer.

Kraken Takes the Lead

Kraken has long been a leader in the crypto space.

In 2019, it became the first major centralized exchange to offer onchain staking, giving users the chance to help secure proof-of-stake (PoS) blockchains. Last year, Kraken expanded its offerings further by allowing clients to restake Ethereum (ETH), supporting Ethereum’s security and helping new projects use its infrastructure.

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Kraken’s staking revival not only marks a turning point for the exchange but also signals that the future of U.S. crypto may be more open and more secure than ever before.