TechFlow News — Institutional staking platform Kiln has announced a $17 million funding round led by 1kx, with participation from IOSG Ventures, Crypto.com, Wintermute Ventures, KXVC, LBank, and existing investors.
The new capital will support Kiln’s global expansion, including establishing its Asia-Pacific (APAC) headquarters in Singapore during Q1 2024 to grow operations in the region, as well as further product development by expanding its platform to incorporate various reward mechanisms within DeFi.
Kiln’s white-label staking technology platform integrates stakers, node operators, and partners across multiple applications and has seen steady growth over the past 12 months. According to Rated, since launch, Kiln has become the largest operator of Ethereum validators. Last year alone, Kiln increased its staked assets by more than fivefold and integrated with multiple operators and partners, including top-tier custody solutions, wallets, and exchanges.
