Major cryptocurrency substitution Kraken has announced that it purchased blockchain infrastructure company and investment managing director Staked for an undisclosed amount.

In a Tuesday announcement, Kraken — the crypto exchange aiming for a $10 billion valuation — said it had added Staked to its portfolio of yield products following the acquisition. The visitor described the Staked deal every bit "i of the largest crypto manufacture acquisitions to date" merely did non disclose the amount.

Co-ordinate to Kraken CEO Jesse Powell, Staked users will have access to Kraken's portfolio of yield products. Staked CEO Tim Ogilvie cited the exchange's "delivery to supporting proof-of-pale networks" as well its track record on client feel and security in its decision to move forrard with the deal.

The crypto exchange said its staking business had grown by more than 950% since the first of the year to reach $16 billion in November. This may take been driven, in part, by vehicles in which to invest in Ether (ETH) and earn staking rewards.

Related: Kraken users accept already staked half a one thousand thousand ETH

Kraken has acquired several companies over the by few years related to its staking business organization and otherwise. Since 2022, the house has purchased accounting and portfolio reconciliation service provider Interchange, Australian crypto exchange Fleck Merchandise and Cryptowatch, amongst others. Powell has also hinted that the exchange could go public before the end of 2022.