Kraken Eyeing Layer 2 Plans

November 7, 2023 11:46 am Comments

Popular U.S-based cryptocurrency exchange Kraken has some bold plans for the future.

The latest reports indicate that Kraken is eyeing the development of its own layer 2 network, similar to what Coinbase previously did earlier this year with the launch of its layer 2 solution.

Kraken has not yet announced which blockchain network it will tap to develop its layer 2 solution; the current potential picks include Polygon, Matter Labs, and the Nil Foundation. According to The Block:

Kraken is currently advertising a job vacancy for a “Senior Cryptography Engineer” who could be tasked, among other things, with the “design and implementation of layer-2 solutions.”

It remains to be seen when Kraken will roll out its layer 2 solution, but crypto enthusiasts are already patiently awaiting the arrival of the L2. Here’s what everyone is saying about the recent announcement:


CoinDesk provided more details:

“We’re always looking to identify and solve for new industry challenges and opportunities,” a Kraken spokesperson told CoinDesk. “We don’t have anything further to share at this time.”

Major crypto companies with established brands and customer followings have been seeking to grow their presence as blockchain builders, either as a potential source of new revenue or simply as an extension of their current operations.

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