Kraken Launches In-Platform Ethereum Restaking to Bring the Cutting Edge of Onchain Finance to the Masses

October 15, 2024 at 11:00 AM EDT

Kraken’s EigenLayer integration makes restaking accessible to a larger audience than ever before

Kraken, one of the longest-standing, most liquid and secure cryptocurrency platforms, has completed an integration with EigenLayer to enable Kraken clients to seamlessly restake assets from the platform, creating new opportunities to put their crypto wealth to work.

Restaking enables validators and stakers to secure decentralized applications on Ethereum using already-staked assets. Projects built on EigenLayer – called Actively Validated Services (AVS) – benefit from the underlying network security and may provide additional staking rewards, typically in the application’s native token or ETH.

With Kraken, clients can now directly restake any ETH they have already staked on the platform, and receive additional staking rewards from the AVSs they support. By allowing access through its user-friendly platform, Kraken is leveraging its existing reach to introduce restaking to a much broader audience than ever before.

“Restaking has been one of the most noteworthy developments of 2024, but so far only the most technically-advanced users have taken advantage of its opportunities,” said Mark Greenberg, Global Head of Asset Growth & Management at Kraken. “As the vast majority of crypto users already interface with CEXs, this integration makes restaking immediately more accessible to a broader range of clients. Tokens paid out in rewards can be held on Kraken or traded for fiat or other cryptocurrencies.”

Kraken subsidiary Staked, a leading EigenLayer operator, is the validator for ETH restaked using Kraken. Not available in the US and other geographic restrictions apply.

For more information, please visit Kraken here or reach out to press@kraken.com

About Kraken

Kraken is one of the world’s longest-standing and most secure crypto platforms. Our mission is to accelerate the global adoption of crypto, so that everyone can achieve financial freedom and inclusion. Globally, Kraken clients trade more than 200 digital assets and 6 different national currencies, including GBP, EUR, USD, CAD, CHF, and AUD.

Founded in 2011, Kraken was among the first to offer spot trading with margin, parachain auctions, staking, regulated derivatives and index services under one roof. Trusted by over 10 million individuals, traders and institutions around the world, Kraken offers professional 24/7/365 client support along with one of the fastest, most performant trading platforms available. Kraken has set the industry standard for transparency and client trust, and was the first crypto platform to conduct Proof of Reserves.

In 2024, Kraken ranked 14th in Newsweek’s Global Top 100 list of Most Loved Workplaces. The only crypto company to have made the list two years in a row, this showcases how the platform offers one of the world’s most compelling employment opportunities.

Kraken markets can be monitored and traded via the web or through the Kraken and Kraken Pro Apps. For more information about Kraken, please visit www.kraken.com.