{"id":9933,"date":"2024-01-18T18:34:53","date_gmt":"2024-01-18T16:34:53","guid":{"rendered":"https:\/\/forklog.com\/en\/kiln-raises-17-million-for-global-expansion\/"},"modified":"2024-01-18T18:34:53","modified_gmt":"2024-01-18T16:34:53","slug":"kiln-raises-17-million-for-global-expansion","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/kiln-raises-17-million-for-global-expansion\/","title":{"rendered":"Kiln Raises $17 Million for Global Expansion"},"content":{"rendered":"<p>The staking platform Kiln, which targets institutional clients, has closed a $17 million funding round led by 1kx.<\/p>\n<p><!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Thrilling start to 2024! <\/p>\n<p>? We have secured $17M in funding led by <a href=\"https:\/\/twitter.com\/1kxnetwork?ref_src=twsrc%5Etfw\">@1kxnetwork<\/a> for our global expansion.<\/p>\n<p>? We are opening a new office in Singapore and are gearing up to provide exciting new features on our platform, such as DeFi rewards.<\/p>\n<p>? Huge thanks to our existing and\u2026 <a href=\"https:\/\/t.co\/R3lEnIF3ga\">pic.twitter.com\/R3lEnIF3ga<\/a><\/p>\n<p>\u2014 Kiln ?? (@Kiln_finance) <a href=\"https:\/\/twitter.com\/Kiln_finance\/status\/1747955061412471096?ref_src=twsrc%5Etfw\">January 18, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Other investors include Crypto.com, IOSG, Wintermute Ventures, KXVC, LBank, Kraken Ventures, GSR, and Avon Ventures, a venture fund affiliated with FMR LLC, the parent company of Fidelity Investments.<\/p>\n<p>The total funding raised by the startup is nearing $35 million. In November 2022, Kiln closed a Series A round with participation from Kraken and ConsenSys, securing \u20ac17 million (approximately $17.8 million).<\/p>\n<p>The company&#8217;s valuation remains undisclosed. However, developers reported that in 2023, the volume of staked assets grew more than fivefold to $4.2 billion. The platform has also integrated with numerous custodial solutions, wallets, and exchanges.<\/p>\n<p>Kiln will use the funds for global expansion, including establishing a division in the Asia-Pacific region and a regional headquarters in Singapore. The funds will also be invested in further product development.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>&#8220;We are currently developing DeFi solutions that allow our integrator clients (wallets, exchanges, custodians) to monetize stablecoin reward opportunities,&#8221; Kiln representatives noted.<\/cite><\/p><\/blockquote>\n<p>The platform supports numerous PoS blockchains, though the majority of staked funds are in <a href=\"https:\/\/dune.com\/kiln\/summary\">Ethereum<\/a>.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>&#8220;Financial institutions will become a dominant force in the crypto space. They leverage vast market opportunities by staking on behalf of their clients,&#8221; said 1kx founding partner Christopher Heymann.<\/cite><\/p><\/blockquote>\n<p>The institutional platform is also the largest operator of validator nodes in the Ethereum network, according to <a href=\"https:\/\/www.rated.network\/?network=mainnet&#038;view=nodeOperator&#038;timeWindow=all&#038;page=1\">Rated<\/a>.<\/p>\n<p>In September, Coinbase Cloud integrated Kiln to provide users with staking capabilities below the minimum threshold of 32 ETH.<\/p>\n<p>For similar purposes, the firm also partnered last year with hardware crypto wallet manufacturer Ledger and the platform Crypto.com.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The staking platform Kiln, which targets institutional clients, has closed a $17 million funding round led by 1kx.<\/p>\n","protected":false},"author":1,"featured_media":9932,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1289,1288,1133],"class_list":["post-9933","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-staking","tag-kiln","tag-venture-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"28","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/9933","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=9933"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/9933\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/9932"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=9933"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=9933"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=9933"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}