Cryptocurrency exchange Kraken is working on introducing structured products centered on staking aimed at boosting its product offering for institutional investors.
The exchange is looking to integrate its trading services with staking through Staked, a company it acquired in 2021.
The head of Staked, Tim Ogilvie, says that the company will have a structured products variant on using staking and a derivative of futures offering set to be launched soon.
Ogilvie adds that the products, referred to as Cash, Carry, and stake, allow investors to stake an asset and sell a futures contract based on the same asset. The executive notes that the strategy enables investors to cut on the underlying currency risks.
The report adds that Kraken through Staked will also introduce liquid staking offerings, which is a way of staking services to unlock the liquidity of staked assets.
Source: The Block