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Kraken, one of the earliest cryptocurrency exchanges, is poised to debut its own blockchain network, called Ink, in 2025.
Ink will reportedly enable users to trade, borrow and lend tokens directly on the chain using decentralized protocols for a smoother experience.
Inspired by the success of Coinbase’s Base network, which launches in 2023, Kraken’s Ink aims to position itself as a leading player in the DeFi space. The network will use technology similar to that of Base, offering improved scalability and efficiency.
Developers will have access to a test network in 2024, allowing them to create and experiment with apps before the official launch.
Following the path of exchanges such as Binance and Coinbase, Kraken’s network is expected to increase revenue and transaction volume on the platform.
According to market watchers, a launch in early 2025 will likely further establish Kraken’s presence in the rapidly evolving landscape of the DeFi sector, as more platforms seek to create their own blockchains, in order to remain competitive.
Ink is built on Optimism’s OP Stack, joining the Ethereum ecosystem and benefiting from the network’s robust security. As part of Superchain, Ink contributes to a unified network of chains that share governance, security and scalability, enhancing the ETH ecosystem.
For developers, Ink provides a comprehensive support system including documentation, technical assistance and financial support, providing a world-class environment for innovation.
To get started, users and developers can issue an NFT, join the Ink community on Discord, or request to participate in upcoming events such as the Ink DevJam at DevCon7 in Bangkok. With Ink, Kraken aims to change the future of finance by making the DeFi sector more accessible to everyone.