- Kraken has announced its on-chain staking product is now available to US clients in 37 states.
- The exchange supports 17 cryptocurrencies, including Ethereum, Solana, Polkadot, and Cardano.
- Regulatory challenges saw the exchange halt the staking feature that it initially launched in 2019.
Kraken has re-launched its staking service in the U.S., with the offering including support for 17 different digital assets.
The crypto exchange’s new staking product is initially available across 37 US states and 2 territories, according to an announcement.
Clients in supported states can now stake any of the several cryptocurrencies Kraken has added to the staking solution, including Ethereum, Solana, Polkadot and Cardano.
“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,” said Mark Greenberg, Kraken’s global head of consumer. “We are excited to bring back a brand new product enabling U.S. clients to resume staking with Kraken and play a significant role in bolstering the underlying security of blockchain networks”
Relaunch follows SEC settlement
Kraken launched on-chain staking in 2019 but halted the offering amid charges from the SEC. In February 2023, the exchange settled with the SEC, a development that has led to the relaunch.
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Greenberg noted:
“Kraken serves as a bridge so people can access the crypto space and participate in an increasingly broad range of related activities from an interface and platform that they’re familiar with. Onchain staking is a key component of how we fulfill this role and we believe the resumption of staking in the U.S. today will play a significant role in the development and mass adoption of crypto.”
The exchange’s announcement comes amid fresh optimism across the crypto industry following President Donald Trump’s election and inauguration.
Many observers have lauded the pro-crypto environment taking shape in the US under the new administration, This includes Trump’s nomination of pro-crypto individuals to head the SEC and CFTC.
An executive order on crypto the president signed in his first week in office has also added to the overall sentiment that regulatory clarity and support for innovation are here.
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