2025-01-31
Jan 30, 2025 - Kraken has reopened its
staking services in the U.S. after nearly two years.
This comes after the cryptocurrency
exchange settled charges with the Securities and Exchange Commission (SEC) in
February 2023, agreeing to pay a $30 million fine.
The SEC had accused Kraken of offering
unregistered securities through its staking services.
Kraken is now offering staking for 17
digital assets, including Ethereum (ETH) and Solana (SOL), to clients in 37
U.S. states. This move signals a more favorable regulatory environment under
the new SEC leadership.
Kraken Relaunches Onchain Staking for
U.S. Clients in 37 States.
Kraken, a leading cryptocurrency
exchange, has announced the launch of a new onchain staking product for U.S.
clients, marking a major step in restoring staking services in the country.
Clients in 37 states and two
territories can now stake eligible tokens via Kraken Pro, contributing to the
security of supported blockchain ecosystems.
Kraken’s U.S. users can now participate
in bonded staking, where crypto assets are locked to the network for a
specified period.
Staked assets are delegated to
validators, who oversee transaction validation and block production, returning
rewards to clients after deducting fees.
Kraken’s Global Head of Consumer, Mark
Greenberg, highlighted the importance of the launch, stating that:
"This is an overwhelmingly positive development, not just for Kraken
but for the entire U.S. crypto space. We are excited to reintroduce staking,
enabling U.S. clients to actively contribute to blockchain security."
Kraken was the first major centralized
exchange to introduce onchain staking in 2019 and has played a pivotal role in
supporting proof-of-stake (PoS) blockchain networks.
The company also became one of the
first platforms to enable ETH restaking in 2023, allowing projects built on
EigenLayer to leverage Ethereum’s security.
PoS has emerged as one of the most
widely used consensus mechanisms in crypto, with staking becoming a crucial
tool for securing blockchain networks. With the relaunch of its U.S. staking
service, Kraken aims to restore parity between its American users and global
clientele, ensuring they have access to similar products and services.
Greenberg added:
"Kraken serves as a bridge for people to access the crypto space.
Onchain staking is an essential part of this mission, and we believe its return
in the U.S. will accelerate mass adoption."
Eligible clients in the U.S. can now
stake 17 different assets, including Ethereum (ETH), Solana (SOL), Polkadot
(DOT), and Cardano (ADA). Additionally, Kraken's restaking integration will be
accessible in approved states.
Kraken also plans to expand staking
access to more states as regulatory conditions permit. For a full list of
eligible states and further details, users can visit Kraken’s staking homepage.
This relaunch represents a significant
step forward for U.S. crypto users, reinforcing Kraken’s role as a key player
in blockchain security and decentralized finance.
