Kraken aims to establish a Layer 2 network similar to Coinbase

According to recent reports, Kraken is now engaging in prospective cooperation discussions with Polygon, Matter Labs, and Nil Foundation.

According to recent reports, the operator of the cryptocurrency exchange Kraken is looking for a partner to assist in the development of a new Layer 2 blockchain. In doing so, Kraken is apparently following the example set by the competing exchange Coinbase.

Since the launch of its Layer 2 product, Base, in February of this year, Coinbase has rapidly expanded its income sources while simultaneously capturing a larger part of the market.

According to a story that was published by CoinDesk today, Kraken is now mulling over the possibility of working in cooperation with Polygon, Matter Labs, or Nil Foundation in order to build up a Layer 2 network of its own. The OP Stack, developed by the same people that created Optimism, is used by Coinbase’s Base service.

A Kraken representative told CoinDesk that the business is “always looking to identify and solve for new industry challenges and opportunities,” but they would not provide any other information in response to an urgent request for comment.

Kraken is looking to hire a “Senior Cryptography Engineer” who will be responsible for the “design and execution of layer-2 solutions.”

Also Read: Samsung’s 2023 Forum Will Be A Game Changer For Artificial Intelligence And Chip Technology