Kraken, a large digital asset platform, has acquired Staked for one of the largest crypto acquisitions to date.

Staked is a non-custodial staking platform that allows investors proof-of-stake networks to securely compound their holdings. The deal enhances Kraken’s position as a provider of staking services to consumers and institutions.

This is Kraken’s fifth acquisition in 2021 as the firm continues on its goal of becoming a crypto portal of choice for retail and professional investors. The firm’s staking business has grown by more than 950 percent in 2021 to $16 billion by November.

“The success of our staking business demonstrates that Kraken has evolved into much more than a custodian and trading venue,” said Jesse Powell, CEO of Kraken. “We’ve become a holistic crypto platform with a diverse range of products that serves the needs of retail, professional, and institutional clients. Heading into the second decade in our company’s history, I’m excited about the future and Kraken’s continued support of the world’s shift to Web3 and DeFi.”