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Kraken has officially introduced native Bitcoin staking through Babylon, allowing users to earn rewards in BABY tokens without the need for wrapping or transferring their assets. This innovative approach enables users to maintain full custody of their Bitcoin while participating in a decentralized security network.
Unlike traditional staking solutions that often involve bridging, wrapping, or lending, Kraken’s new service permits users to delegate their BTC and help secure Proof-of-Stake blockchains without sacrificing control over their digital asset. This means no reliance on third-party platforms or risky intermediaries.
The newly launched service is available globally through Kraken and Kraken Pro, with payouts distributed weekly in BABY tokens. Additionally, users have a seven-day window for unstaking their Bitcoin, allowing for greater flexibility and control over their assets.
Kraken’s Global Head of Consumer highlights the significant opportunity cost associated with idle Bitcoin sitting on exchanges like theirs, noting that this development represents a major shift in the broader crypto ecosystem. By participating in Bitcoin staking, users can unlock passive income without compromising their ownership or decentralization.
Source: fullycrypto.com
