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Crypto exchange Kraken will integrate the INK cryptocurrency token and Ink layer two (L2) protocols into its core trading platform, followed by an airdrop of the token to eligible users.
Kraken to Incorporate Ink Foundation’s INK Token and L2 Tech
The integration, announced July 24 and shared with Bitcoin.com News, involves technology built by the Ink Foundation. Kraken stated the move aims to enable new onchain use cases. The INK token, issued by an Ink Foundation subsidiary, is designed for use within the Ink L2 ecosystem.
Eligible active Kraken clients and ecosystem participants will receive INK tokens via the exchange’s “Drops” airdrop program. Specific eligibility criteria and distribution details were not provided in the announcement.
Kraken co-CEO Arjun Sethi stated the objective is to integrate “production grade onchain systems” across its offerings. He described the Ink L2 as a high-throughput, low-finality environment compatible with the Ethereum Virtual Machine (EVM), suitable for trading and payments infrastructure.
The Ink Foundation Board called the partnership a “pivotal moment,” stating Kraken’s move helps bridge centralized (CeFi) and decentralized finance (DeFi). They indicated it marks a step towards unified capital markets accessible to anyone.
More information on the rollout schedule and airdrop details will be shared as each milestone is met, the announcement said. INK enters the scene as rivals have already built a sizable head start with layer two systems like Coinbase’s Base.