Kraken Launches Ink Blockchain

One of the oldest cryptocurrency exchanges in the world, Kraken, has announced the launch of its own blockchain, Ink, scheduled for early next year. This blockchain will be designed for decentralized applications, enabling the trading, borrowing, and lending of tokens without intermediaries, similar to Coinbase’s Base.

A test version of the blockchain will be released by the end of this year, with the main version expected in the first quarter of 2025. Ink will support over 10 major decentralized platforms and liquidity aggregators. Importantly, the network's validators will initially be controlled solely by Kraken, with plans to transition to a decentralized model.

Additionally, the blockchain will not have a native token at the outset. This move will help Kraken expand its presence in the DeFi ecosystem and attract new users, following the successful implementations of blockchains by Binance and Coinbase. We will keep an eye on developments!