Kraken, one of the most prominent cryptocurrency trading platforms, is on track to launch its own blockchain called “Ink,” Bloomberg reported Thursday.
According to the report, a team of 40 people is currently busy developing the chain.
The exchange will follow in the footsteps of arch-rival Coinbase, which opened its Base blockchain to the public last August.
According to data provided by DefiLlama, Base is the fifth largest blockchain by total value locked (after Ethereum, Tron, Solana, and BSC).
Ink’s testnet is expected to begin this year, Bloomberg reports. It is expected to be publicly available in Q1 2025.
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Blockchain is touted as simple and intuitive, and is thought to make decentralized finance (DeFi) more accessible to the average Joe. Kraken also claims to be secure and interoperable.
Blockchain will initially offer a decentralized exchange (DEX) and some aggregators. Later, the list of available apps will be expanded.
The exchange claims that the Ink blockchain can offer “world-class” development opportunities. “Powered by Superchain and powered by over a decade of crypto expertise, this is where visionary builders turn code into a financial revolution,” the company’s website states. There is.
Launched in 2011, Kraken is, of course, one of the oldest cryptocurrency exchanges on the market.
