Kraken Awakens

Kraken has been relatively quiet for better part of year since the SEC sued Kraken.

Although, in the past few weeks the USA's largest Crypto exchange Kraken has been very busy with updates:

Listed newest to oldest.

• Kraken Launches Derivatives for Australian Wholesale Clients After Setback by Regulators. Allowing trades of Crypto, Fiat and Stablecoins. I look for AU local Bit trade to clean up their reserves and offer similar services.

• Kraken Desktop Launched 

  •  A lightweight desktop app that runs on Linux, MacOS and of course Windows. This enables you to quickly trade Krakens 800+ crypto markets. It's built upon Rust programming language so its super fast and fully customizable. Kraken desktop comes with 30 Technical Analysis (TA) indicators to help you chart your way to success.
  • The only gotcha is you must be a Kraken member to gain access to the OS download files, so no kicking the tires without proper access.
• Kraken Ink - Kraken developed and released their own Layer 2 which was built upon the Optimism superchain (AKA Optimism OP stack). Kraken intends for Ink to be a bridge to DeFi. 
  • The goals are simple - to simplify crypto and bring in more users, they are making Ink extensible for other developers which will make it a community offering.
  • Ink testnet will launch in the next few weeks, be on the lookout for it.
• Kraken delisted Monero (XMR) in the EU due to EU MICA regulations as XMR is a privacy coin and apparently you can't challenge the EU when it comes to Fiat currency.  I am going to watch this intently as Eurite: The Euro-Pegged Stablecoin to see IF Kraken adds this to their tradable tokens.
  
  • Perhaps Eurite will be used by the citizens (peasant class) and the EU CBDC will be used for cross border payments? I am still trying to flesh out the details how this 2-tier system will work.

Summary

The Kraken has awoken from its slumber and is making big moves, from delisting the privacy coin Monero, to releasing their own desktop application and building their own Layer 2 to be a bridge for DeFi. I see these as huge leaps forward from the sleeping giant. Keep it up Kraken!

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