Summary
- Kraken announced the launch of a Bitcoin staking service.
- Kraken users will be able to utilize Bitcoin staking without an external wallet.
- Staking rewards will be distributed as Babylon tokens instead of Bitcoin.
The US-based cryptocurrency exchange Kraken is launching a new Bitcoin (BTC) staking service.
According to Cointelegraph on the 19th (local time), Kraken entered into a partnership with the Bitcoin staking protocol Babylon on this day.
Through this partnership, Kraken users can access the Bitcoin staking service without using an external wallet. Staking rewards will be paid in Babylon, not Bitcoin.
Meanwhile, as of 11:03 PM on the same day, Babylon is trading at $0.04862 on CoinMarketCap, up 3.26% from the previous day.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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