Kraken expands into DeFi with new blockchain set for 2025
Although it will launch without a native token, Ink will feature DeFi tools like decentralised exchanges (DEXs) and yield-generating platforms, accessible via the Kraken Wallet app.
Kraken, a prominent cryptocurrency exchange, is set to unveil its new blockchain platform, Ink, in early 2025. The initiative marks a strategic shift towards decentralised finance (DeFi), empowering users to trade, borrow, and lend assets without intermediaries, a departure from Kraken’s traditional centralised operations. Ink aims to streamline DeFi access, making it more user-friendly and cost-effective.
The blockchain, inspired by similar efforts like Binance’s BNB Smart Chain and Coinbase’s Base, will launch without a native token but will include DeFi tools such as decentralised exchanges (DEXs) and yield-generating platforms, all accessible through the Kraken Wallet app. Kraken also plans to serve as Ink’s primary sequencer, managing network transactions and generating revenue, a model that has proven profitable for competitors.
Kraken introduced a derivatives trading platform in Bermuda on 3 October, following the receipt of a Class F Digital Business Licence from the Bermuda Monetary Authority in July. This expansion allows Kraken to provide digital asset wallet services, as well as futures and derivatives trading, aiming to capitalise on the growing market demand for these offerings.
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