Crypto exchange Kraken has announced the full integration of 19 Web3 partners into its product ecosystem, marking a significant step in its vertical partnership network strategy. By embedding external protocols into native services, Kraken offers users a seamless experience from on-chain asset management to yield generation.
Key Product Enhancements: Kraken Wallet, Kraken 360, and DeFi Earn
The integration includes Kraken Wallet, which now supports direct management of on-chain assets from partner protocols, allowing users to transfer and stake without leaving the platform. Kraken 360 consolidates trading, custody, and staking into a unified interface for both retail and institutional clients.
On the yield front, DeFi Earn incorporates protocols such as Ethena, Veda, and Chaos, enabling users to access on-chain yields (e.g., stablecoin staking, liquidity mining) directly within Kraken’s platform, eliminating the complexity of manual DeFi interaction.
Strategic Acquisitions Bolster Ecosystem
Kraken also completed several key acquisitions: Bit Trade and Circle Trade enhance its trading depth and institutional services; the acquisition of Backed has integrated the xStocks (tokenized stocks) product into Kraken’s website, app, and Pro trading platform. This strategy of converting external capabilities into proprietary features significantly improves Kraken’s scalability and market presence.
Kraken stated that this Web3 integration is only the first step in its long-term ecosystem expansion, with plans to onboard more protocols and partners while adhering to compliance, security, and usability. Following the news, partner tokens CHAOS and ENA saw modest price increases.