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January 23, 2024

Kiln Powers Up with $17M Boost for Global Staking

Kiln, proudly unveils a $17 million funding triumph, propelling its total funding to an impressive $35 million

Securing an impressive $17 million in funding, Kiln, a cutting-edge enterprise-grade staking platform, is on a mission to revolutionize the digital assets ecosystem. Today, we unravel the story of Kiln's financial ascent and its pivotal role in reshaping the landscape of staking solutions.

Kiln doesn't just stake assets; it pioneers the whitelabel staking frontier for institutional clients, setting the stage for seamless integration into their services. With over $4 billion programmatically staked and 4% of the Ethereum network relying on its robust infrastructure, Kiln is a force to be reckoned with in the Proof-of-Stake (PoS) blockchain realm.

Beyond securing blockchains, Kiln boasts a validator-agnostic suite of products. This suite facilitates automated deployment of validators, streamlined reporting, and efficient commission management. Custodians, wallets, and exchanges benefit from Kiln's prowess, simplifying staking operations across providers.

Laszlo Szabo, Kiln's CEO and Co-founder, expresses enthusiasm about the funding milestone. He emphasizes Kiln's commitment to democratizing value creation in the digital assets space, ensuring millions access rewards effortlessly. With expansion plans on the horizon, Kiln is gearing up to establish its presence in Singapore.

The $17 million funding round, spearheaded by 1kx, witnessed contributions from, IOSG, Wintermute Ventures, KXVC, LBank, and existing investors like Kraken Ventures, GSR, and Avon Ventures. Kiln's journey is backed by leading digital assets investors, a testament to its industry-leading solutions.

Christopher Heymann, Founding Partner at 1kx, sees Kiln as the industry leader in staking-as-a-service. Recognizing the immense market potential, Heymann envisions financial institutions leveraging Kiln to stake on behalf of their customers. Kiln, with its comprehensive and secure solution, is poised to drive global accessibility to staking solutions.

The funding injection is set to fuel Kiln's global expansion, marked by the establishment of its APAC Headquarters in Singapore in Q1 2024. Additionally, Kiln aims to enhance its platform, incorporating various reward mechanisms within the decentralized finance (DeFi) space.

Neil Hodgson Coyle
Neil Hodgson-Coyle
Editorial chief at TechNews180
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