Hassan Maishera
TL;DR
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Kraken now allows its users in the United States to stake 17 assets, including ETH, SOL, DOT, and ADA.
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The crypto exchange previously halted its staking-as-a-service platform for U.S. customers and paid $30 million to settle SEC charges.
Kraken Resumes Staking Service for U.S. Customers
Kraken, one of the leading cryptocurrency exchanges in the world, has re-introduced blockchain staking products for its clients in the United States. This latest development comes following changes in the SEC leadership in the country as crypto adoption grows.
According to Kraken, customers across 39 eligible states can now use Kraken Pro and enjoy bonded staking, where tokens are locked up for certain periods of time depending on the blockchain in question.
With Donald Trump as president and a new leadership within the SEC, cryptocurrency companies are rolling out products for their U.S. customers as they previously endured tough measures from the former administration.
The re-introduction comes after Kraken halted its staking-as-a-service platform for U.S. customers in February 2023. The crypto exchange also paid $30 million to settle SEC charges that it offered unregistered securities. In an interview, Mark Greenberg, Kraken Global Head of Consumer, said,
“We have long been talking about how best to offer this product and bring staking back to the U.S., because we believe it's so important as a foundational element of crypto.”
According to Greenberg, this latest development is “an overwhelmingly positive development, not just for Kraken but also for the entire U.S. crypto space.”
With this re-introduction, Kraken’s clients in select U.S. states can now stake 17 assets, including ETH, SOL, DOT, and ADA. The crypto exchange added that the clients’ assets are also covered by slashing insurance from a third-party provider.
Kraken is one of the leading crypto exchanges in the world, processing over $1.2 billion in daily trading volume.
