Ink will launch without a native token, but will feature DeFi tools such as a decentralized exchange (DEX) and yield generation platform that can be accessed through the Kraken Wallet app.
Kraken, a prominent cryptocurrency exchange, plans to launch its new blockchain platform, Ink, in early 2025. The initiative marks a strategic shift towards decentralized finance (DeFi), allowing users to trade, lend and borrow assets without intermediaries, and is a departure from previous efforts. Free yourself from Kraken’s traditional centralized operations. Ink aims to streamline DeFi access, making it more user-friendly and cost-effective.
The blockchain is inspired by similar efforts such as Binance’s BNB Smart Chain and Coinbase’s Base, and although it will launch without a native token, it will It includes DeFi tools, all accessible through the Kraken Wallet app. Kraken also plans to serve as Ink’s primary sequencer and manage network transactions to generate revenue, a model that has proven beneficial for competitors.
Kraken introduced its derivatives trading platform in Bermuda on October 3 after receiving a Class F Digital Business License from the Bermuda Monetary Authority in July. With this expansion, Kraken will now be able to offer futures and derivatives trading in addition to digital asset wallet services, aiming to capitalize on the growing market demand for these services.
