Institutional crypto staking platform Kiln has raised $17 million in funding, bringing its total funding to $35 million, in a round led by 1kx, with participation from Crypto.com, IOSG Ventures, Wintermute, KXVC and LBank. Kiln plans to use the capital for global expansion and product development, including a DeFi product which will enable integrated customers (wallets, exchanges, custodians) to monetize stablecoin rewards opportunities. Kiln has become the largest operator of Ethereum validator nodes, representing 4% of the Ethereum network, and has increased its staked assets under management to $4.2 billion in 2023.
Kiln Raises $17 Million In Latest Funding Round to Expand Crypto Staking Platform
