Kraken to Launch Ink Ethereum Layer-2 Blockchain in 2025 for DeFi

Oct 24, 2024, 01:46 PM

Crypto exchange Kraken has announced plans to launch its own blockchain, called Ink, in early 2025. The new Layer-2 network will be built on Optimism's OP Stack and aims to facilitate decentralized applications for trading, borrowing, and lending of tokens without intermediaries. Ink will also feature sub-second block times and interoperability with other blockchain networks. Kraken's move mirrors similar efforts by Coinbase with its Base chain and is expected to contribute to the broader adoption of Ethereum. The testnet for Ink is planned for the end of this year, with full launch events for developers scheduled at Devcon 2024. Kraken, with over 10 million users, will integrate Ink into the Ethereum Superchain.