Catenaa, Saturday, June 28, 2025- Crypto exchange Kraken announced Thursday it is offering Bitcoin holders the ability to stake their BTC on its platform and earn rewards in Babylon’s native BABY token.
The feature uses Babylon’s protocol to let users lock up Bitcoin to support proof-of-stake (PoS) networks, a first for Bitcoin holders on a major exchange.
Kraken Global Head of Consumer Mark Greenberg said much Bitcoin sits idle on exchanges, representing lost opportunity for users and the ecosystem. This new service allows customers to earn returns while helping PoS blockchains validate transactions and enhance network security.
The staking option will be available to users in the US, excluding California, Maine, Maryland, New Jersey, New York, Washington, and Wisconsin, as well as in the UK, Australia, and the United Arab Emirates.
Unlike traditional PoS coins like Ethereum and Solana, Bitcoin operates on proof-of-work consensus. Babylon’s technology enables Kraken users to use BTC as collateral to secure PoS blockchains and earn BABY token rewards in return.
Kraken recently resumed expanding its financial offerings after the US Securities and Exchange Commission dropped enforcement actions against the company. In April, Kraken added stock and ETF trading in select US states, diversifying beyond crypto.
Bitcoin traded near $104,300 Thursday as US markets observed the Juneteenth holiday.
The new staking program marks Kraken’s continued push into crypto innovation and user rewards.
