TechFlow news, June 20 — According to The Block, cryptocurrency exchange Kraken has integrated with the decentralized finance protocol Babylon to launch a Bitcoin "staking" service, allowing users to earn passive yields directly from their Bitcoin holdings without bridging, wrapping, or lending.
Mark Greenberg, Kraken's Global Head of Consumer, said that a significant amount of Bitcoin currently sits idle on exchanges, representing an opportunity cost for both customers and the broader ecosystem. With this launch, customers can now earn yield on Bitcoin while enabling emerging proof-of-stake blockchains to leverage Bitcoin's economic weight to validate transactions and strengthen network security.
The service is currently available only in select regions of the United States, the UK, Australia, and the UAE. Users can stake Bitcoin instantly, but unstaking requires a 7-day unbonding period during which no yield is earned.
