The cryptocurrency landscape continues to evolve as major exchanges expand beyond traditional centralized trading platforms and venture deeper into decentralized finance (DeFi). One of the most anticipated developments in 2025 is Kraken’s launch of Ink, a new blockchain purpose-built for DeFi applications. Set to debut in early 2025, Ink represents a strategic shift for Kraken, signaling its intent to become a key player in the decentralized ecosystem.
A New Chapter for Kraken: From CEX to DeFi Innovator
Kraken, a leading centralized exchange (CEX), has long been known for its robust security, regulatory compliance, and user-friendly interface. Now, with the introduction of Ink, the company is positioning itself at the intersection of centralized and decentralized finance. Unlike many blockchain launches that introduce native tokens, Ink will operate without one, focusing instead on seamless integration with Kraken’s existing services—particularly its Kraken Wallet app.
This move aligns Kraken with other industry giants like Binance and Coinbase, both of which have successfully launched their own blockchains—BNB Smart Chain and Base, respectively. However, Kraken’s approach differs by prioritizing accessibility and user experience over tokenomics, aiming to lower the barriers to entry for mainstream users exploring DeFi.
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What Is Ink? A Blockchain Built for Simplicity and Scale
Ink is designed to simplify the often-complex world of decentralized finance. By offering a streamlined platform for trading, borrowing, and lending tokens, Ink eliminates the need for multiple third-party intermediaries—a common pain point for new DeFi users.
The blockchain will debut with over a dozen integrated decentralized applications (DApps), including decentralized exchanges (DEXs) and yield-generating platforms. These tools will be accessible directly through the Kraken Wallet, allowing users to transition smoothly between centralized services and decentralized features.
One of Ink’s standout features is Kraken’s role as the sequencer—the entity responsible for ordering and processing transactions on the network. This model mirrors the successful strategies used by Base and other layer-2 solutions, enabling faster transaction finality and improved scalability. As the sole sequencer at launch, Kraken will generate revenue from transaction fees, a model that has proven lucrative; for example, Coinbase earned $53 million in sequencer revenue during Q2 2024 alone.
Empowering Developers: Testnet Launch and Ecosystem Growth
To encourage innovation and early adoption, Kraken plans to roll out a developer testnet later in 2024. This will allow developers to build, test, and optimize DApps ahead of the mainnet launch in early 2025.
By engaging the developer community early, Kraken aims to foster a vibrant ecosystem from day one. Future roadmap items include support for real-world assets (RWAs) and advanced lending protocols, further expanding the utility of the Ink blockchain.
This developer-first approach underscores Kraken’s long-term vision: not just to launch a blockchain, but to cultivate a sustainable, user-driven DeFi environment that bridges the gap between traditional finance and decentralized innovation.
Expanding Beyond Trading: Kraken’s Broader Strategic Moves
The launch of Ink is part of a broader expansion strategy for Kraken. Recently, the exchange launched a regulated derivatives trading platform in Bermuda, approved by the Bermuda Monetary Authority. The platform offers both perpetual and fixed-maturity futures contracts, catering to growing demand in the crypto derivatives market.
This move strengthens Kraken’s position as a full-service crypto platform—offering spot trading, derivatives, staking, and now, with Ink, native DeFi capabilities. As regulatory clarity improves in certain jurisdictions, Kraken is leveraging these opportunities to expand globally while maintaining compliance.
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Why Ink Matters: Bridging Centralized and Decentralized Finance
The rise of DeFi has demonstrated strong demand for financial services that are open, transparent, and permissionless. However, many users still face challenges related to complexity, high fees, and fragmented experiences across multiple platforms.
Ink aims to solve these issues by offering a unified experience—where users can access DeFi tools without leaving the familiar Kraken ecosystem. This hybrid model could serve as a blueprint for how centralized exchanges evolve in a multi-chain, decentralized future.
Moreover, by not introducing a native token, Kraken avoids potential regulatory scrutiny around securities laws—a growing concern in the U.S. crypto landscape. This cautious yet forward-thinking approach may give Ink a competitive edge in markets where compliance is paramount.
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Frequently Asked Questions (FAQ)
Q: What is the Ink blockchain?
A: Ink is a new blockchain developed by Kraken, launching in early 2025. It is designed specifically for decentralized finance (DeFi) applications, offering users easy access to trading, lending, and yield-generating services through the Kraken Wallet.
Q: Does Ink have a native cryptocurrency?
A: No, Ink will not have its own native token. Instead, it focuses on integrating existing DeFi protocols and improving user experience within the Kraken ecosystem.
Q: How will Kraken make money from Ink?
A: Kraken will act as the sequencer for the Ink blockchain, managing transaction ordering and earning revenue from associated fees—a model similar to Coinbase’s approach with Base.
Q: When can developers start building on Ink?
A: A developer testnet is expected to launch in late 2024, allowing developers to experiment with DApps before the mainnet release in early 2025.
Q: How is Ink different from BNB Chain or Base?
A: While similar in purpose, Ink distinguishes itself by prioritizing seamless integration with Kraken’s centralized services and avoiding a native token, which may reduce regulatory risk and simplify user onboarding.
Q: Will Ink support real-world assets?
A: Yes, future updates plan to introduce support for real-world assets (RWAs) and advanced lending platforms, enhancing the blockchain’s utility beyond basic DeFi functions.
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Final Thoughts: A Strategic Leap Into the Decentralized Future
Kraken’s launch of Ink marks more than just a product rollout—it’s a strategic evolution. As the lines between centralized and decentralized finance continue to blur, platforms that offer both security and innovation will lead the next phase of crypto adoption.
With Ink, Kraken isn’t just following trends—it’s helping define them. By focusing on usability, developer engagement, and regulatory prudence, the exchange is laying the foundation for a scalable, inclusive DeFi future accessible to millions worldwide.