CMC News

$BTC Staking Launches on #Kraken Through #Babylon Protocol Integration

Kraken has introduced $BTC staking services, allowing users to earn rewards without bridging, wrapping, or lending their holdings.

The exchange partnered with Babylon Labs to enable Bitcoin delegation, securing proof-of-stake (PoS) networks through on-chain vaults.

Users earn $BABY tokens rather than $BTC rewards, with the token price rising nearly 5% following the announcement.

Mark Greenberg noted "substantial amounts" of $BTC currently sit idle on the exchange, representing opportunity costs.

The service locks #Bitcoin on the Bitcoin blockchain while delegating security functions to emerging PoS networks.

Kraken customers can stake directly without interacting with external wallets or complex technical processes.

Babylon's protocol enables $BTC economic weight to validate transactions and enhance #PoS #blockchain security.