Paris-based Kiln, a leading enterprise-grade staking platform, has successfully closed a $17 million funding round to fuel its global expansion and enhance its institutional staking solutions.
Over the past 12 months, Kiln’s white-label staking technology platform has become a dominant force in the market. The platform facilitates collaboration among stakers, node operators, and integrators, and has experienced remarkable growth, managing over 5 times the stake it held just a year ago. Kiln has earned recognition as the largest operator of Ethereum validator nodes.
In late 2023, Kiln strategically partnered with Ledger Live, Crypto.com, and Coinbase to introduce pooled staking services. This innovative move enables every Ethereum (ETH) holder, regardless of their holding size, to access staking services. Kiln’s commitment to inclusivity aligns with its mission to democratize value creation within the digital assets ecosystem.
Global Expansion Plans
Kiln’s recent funding injection, led by 1kx and participation from IOSG, Crypto.com, Wintermute Ventures, KXVC, and LBank, will primarily support the platform’s global expansion. The company is set to establish its Asia-Pacific Headquarters in Singapore during Q1 2024. This expansion aims to strengthen Kiln’s presence in the APAC region and foster further product development, particularly in the realm of decentralized finance (DeFi).
Christopher Heymann, Founding Partner at 1kx, expressed enthusiasm as Kiln emerges as an industry leader, providing sophisticated staking-as-a-service solutions. Kiln’s commitment to excellence has attracted support from prominent digital assets investors. This emphasizes its pivotal role in shaping the future of staking solutions.
Laszlo Szabo, CEO and Co-founder at Kiln expressed excitement about the company’s upcoming developments. The funds raised mark the beginning of a series of exciting milestones for Kiln. The funds showcase its dedication to fostering widespread access to staking solutions globally.
Kiln’s successful funding round underscores the growing prominence of staking platforms in the crypto space. As the company continues to innovate and expand, its commitment to inclusivity and strategic partnerships promises a bright future.