Last week, leading cryptocurrency exchange Kraken made a significant announcement regarding its future plans. The exchange revealed its intention to develop a layer-2 network on top of Optimism’s OP Stack blockchain framework.
According to sources, the agreement between Kraken and Optimism was finalized earlier this year. As part of the deal, Kraken was granted 25 million OP tokens, valued at approximately $100 million at the time of the agreement.
This strategic partnership aims to leverage the scalability and efficiency of layer-2 solutions to enhance the performance of Kraken’s platform. By integrating with Optimism’s technology, Kraken hopes to address the growing demands of its users while maintaining a high level of security and decentralization.
With this collaboration, Kraken joins a growing list of industry players embracing layer-2 solutions to optimize blockchain transactions. The move is expected to bring significant benefits to Kraken’s users, including faster transaction speeds, lower fees, and improved overall user experience.
As the cryptocurrency market continues to evolve, partnerships like the one between Kraken and Optimism highlight the industry’s commitment to innovation and scalability. By investing in cutting-edge technologies, Kraken aims to stay at the forefront of the rapidly changing blockchain landscape.
