Kraken Integrates with Babylon to Launch Bitcoin Staking Service

Odaily News Crypto exchange Kraken has launched a Bitcoin staking service through a new integration with Babylon, which allows users to directly stake their Bitcoin, locking it in a custody vault on the native chain. The staked Bitcoin will then be delegated to the PoS network through Babylon, and rewards will be paid in the form of BABY tokens. The mechanism is completely on-chain, and staking is managed by Bitcoin scripts and cryptographic safeguards to prevent malicious behavior. Users can cancel the stake at any time, and the unbinding period is about 7 days. (CoinDesk)