Following in the footsteps of Coinbase, Kraken begins to build its own Layer 2

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With the rapid development of the cryptocurrency industry and the “Layer 2 trend” in recent times, Kraken is constantly striving to innovate to keep up with the trend. The latest move is to plan to build its own Layer2.

Recently, Kraken, one of the major cryptocurrency exchanges in the United States, is considering partnering with some leading blockchain technology companies such as Polygon, Matter Labs, Nil Foundation… to deploy the network Layer2 itself.

Currently, the exchange has not made an official announcement regarding the Layer 2 project, and all details remain confidential.

“We are always looking for and exploring new challenges and opportunities in the industry. As for the Layer 2 project, we cannot reveal details yet.”

Kraken Spokesperson

It’s worth noting that Kraken also posted a job ad looking for “senior programmers with knowledge of modern cryptography, including ZK technology.” The hiring hall notes that candidates will have the opportunity to participate in “designing and implementing Tier 2 solutions.”

Additionally, the exchange acknowledged that the development team has begun working on how to integrate more decentralized protocols and applications into Kraken.

However, this strategic move will put Kraken into competition with Coinbase, which launched its own Layer 2 network Base last August. Furthermore, with the launch of Layer 2, Kraken is likely to gain additional revenue streams and expand its current business and position in the industry.

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