Kiln Secures $17 Million in Funding Round to Expand APAC Growth

Staking Platform Kiln Raises $17 Million in Funding for Global Expansion

Kiln, an enterprise-grade staking platform, has successfully closed a $17 million funding round to support its global expansion plans. The funding round saw participation from various entities, including IOSG Ventures, Wintermute Ventures, KXVC, and LBank.

Expanding Global Presence and Product Development

Kiln intends to utilize the raised funds to expand its presence in the Asian-Pacific region by establishing a headquarters in Singapore in early 2024. Additionally, the company aims to enhance its product offerings by incorporating additional reward mechanisms in decentralized finance (defi).

Partnerships and Growth

Kiln has recently formed partnerships with Ledger Live, Crypto.com, and Coinbase to provide pooled staking services. Furthermore, Coinbase Cloud has integrated with Kiln’s On-Chain platform to enable wallet providers to offer native Ethereum staking capabilities. These collaborations have significantly expanded Kiln’s reach as a staking platform, resulting in a five-fold increase in stake under management over the past year.

Continued Investor Support

Kiln has successfully raised a total of $35 million from leading crypto investment groups such as Illuminate Financial, Kraken Ventures, Avon Ventures, Consensys, GSR, Leadblock Partners, Sparkle Ventures, and XBTO. The company remains focused on securing new funding opportunities to support its growth trajectory.

Achieving Value Democratization

Kiln’s co-founder and CEO, Laszlo Szabo, expressed the company’s mission to democratize value creation within the digital assets ecosystem. By providing millions of users with easy access to rewards through their platform, Kiln aims to bring about exciting developments in the future.

Hot Take: Kiln Secures $17 Million Funding to Drive Global Expansion and Product Innovation

Enterprise-grade staking platform Kiln has successfully raised $17 million in funding, further solidifying its position in the market. With plans to expand its presence in the Asian-Pacific region and develop new reward mechanisms in defi, Kiln is poised for significant growth. The company’s strategic partnerships with industry leaders and its increasing stake under management demonstrate its expanding reach and influence. Backed by previous successful fundraising efforts and continued investor support, Kiln is well-positioned to drive value democratization within the digital assets ecosystem. This recent funding round marks a significant milestone for Kiln, signaling exciting developments on the horizon.