Kraken Announces Upcoming Blockchain Launch for Early 2025

Kraken is set to launch a new blockchain called Ink early 2025. This will be a significant milestone for one of the largest digital asset trading platforms in the United States.

By entering the blockchain space, Kraken aims to change how users engage with decentralized finance (DeFi) applications. Excitement builds as the crypto community anticipates this innovative development.

Ink: A Layer-2 Network on Optimism Superchain

The Ink Blockchain will function as a layer-2 (L2) network, built on the Optimism Superchain. This framework connects various blockchains, offering a shared codebase that enhances security and governance. 

With Ink, users will find easier access to DeFi applications. Trading, lending, and borrowing cryptocurrencies should become more seamless. Andrew Koller, the founder of Ink, plans to launch a testnet later this year. 

Developers will have the chance to experiment with new applications tailored for this blockchain. Kraken intends to onboard retail and institutional users by the first quarter of 2025. 

Notably, Kraken will not introduce a new token alongside Ink. This decision shows a focus on simplicity and user experience. By avoiding an additional token, Kraken hopes to attract users looking for straightforward DeFi solutions.

Kraken’s Expanding Role in the Crypto Landscape

Several decentralized exchanges (DEXs) and aggregators will operate on the network when Ink launches. Kraken envisions a future where real-world assets and advanced lending applications thrive on this blockchain. 

Over time, transaction management will transition to a decentralized model, allowing multiple participants to share responsibilities. With this launch, Kraken joins a growing list of crypto exchanges developing their own blockchains. 

Coinbase’s Base and Binance’s long-standing BNB Chain lead the way. By enhancing revenue and user engagement, Kraken aims to solidify its position in the evolving crypto landscape.