Kraken, a leading cryptocurrency exchange, has made a significant announcement regarding the integration of the INK token and the Ink Layer 2 network into its core platform. This move is aimed at enhancing trading capabilities, boosting liquidity, and increasing DeFi utility across Kraken’s global product suite.
The INK token will play a crucial role in powering various decentralized protocols within Kraken’s ecosystem. It is set to be a key component in the exchange’s trading mechanisms, liquidity provision, and user incentive programs. Additionally, the INK token will be included in Kraken Drops, the platform’s airdrop rewards program for eligible users.
According to the Ink Foundation, the INK token is primarily designed to enhance network utility by supporting various applications such as lending and trading. Unlike many other tokens in the crypto space, INK will not have governance functions. Instead, it will be utilized to aggregate liquidity and drive engagement across Ink’s DeFi stack. Following the announcement, the price of INK surged by 10%, reaching $0.0008 with a market cap of $372,495.
This development comes on the heels of several recent milestones achieved by Kraken. The exchange recently launched Krak, a global payments and remittance app, and started listing xStocks, tokenized equities issued by Backed, for 24/5 trading. Kraken also introduced regulated derivatives trading for U.S. users and enabled Bitcoin staking through Babylon. Furthermore, the exchange obtained a MiCA license from Ireland, allowing it to expand its regulated services across all 30 European Economic Area member states.
In a significant turn of events, Kraken is contemplating an initial public offering (IPO) as early as the first quarter of 2026. This decision follows the Securities and Exchange Commission’s (SEC) dismissal of a securities law case against the exchange on March 3. The integration of the INK token and the Ink Layer 2 network marks a strategic move by Kraken to further solidify its position in the cryptocurrency market and provide enhanced services to its global user base.