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<h2 class="wp-block-heading" id="kraken-s-strategic-move-in-crypto-storage">Kraken’s Strategic Move in Crypto Storage</h2>
<p>America’s second-largest crypto <a href="https://twitter.com/krakenfx/status/1780612343354855625" target="_blank" rel="noopener noreferrer nofollow">exchange</a>, Kraken, unveiled its latest innovation on April 17: a self-custodial, open-source crypto wallet. This move positions Kraken alongside other key industry players such as Coinbase and Consensys, marking a significant development in the digital asset storage market.</p>
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   <p lang="en" dir="ltr">Meet the brand new Kraken Wallet: simple, secure, powerful.<br><br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f5dd.png" alt="🗝" class="wp-smiley" style="height: 1em; max-height: 1em;"> Manage multiple wallets<br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f310.png" alt="🌐" class="wp-smiley" style="height: 1em; max-height: 1em;"> Multi-chain support<br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4ca.png" alt="📊" class="wp-smiley" style="height: 1em; max-height: 1em;"> Manage NFTs &amp; DeFi positions<br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f512.png" alt="🔒" class="wp-smiley" style="height: 1em; max-height: 1em;"> IP privacy &amp; Encryption<br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4d6.png" alt="📖" class="wp-smiley" style="height: 1em; max-height: 1em;"> No client side tracking<br><br>Download now <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2935.png" alt="⤵" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://t.co/EYHweJGDzV" target="_blank" rel="noopener noreferrer nofollow">https://t.co/EYHweJGDzV</a> <a href="https://t.co/jLbldh9j6k" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/jLbldh9j6k</a></p>— Kraken Exchange (@krakenfx) <a href="https://twitter.com/krakenfx/status/1780612343354855625?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">April 17, 2024</a>
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<h2 class="wp-block-heading" id="open-source-for-greater-transparency-and-security">Open-Source for Greater Transparency and Security</h2>
<p>Kraken claims a pioneering stance in the crypto wallet space by adopting an open-source <a href="https://btc-pulse.com/human-rights-launches-500k-fund-bitcoin-development/" rel="noopener noreferrer nofollow">development </a>model. This approach allows blockchain developers and enthusiasts to <a href="https://btc-pulse.com/white-hat-hacker-seal-launches-sharing-platform/" rel="noopener noreferrer nofollow">contribute </a>and review the wallet’s code directly on GitHub, promoting a transparent and secure development environment.</p>
<h2 class="wp-block-heading" id="prioritizing-privacy-alongside-security">Prioritizing Privacy Alongside Security</h2>
<p>The new wallet not only focuses on robust security features but also on user privacy. Kraken implements sophisticated IP-masking <a href="https://btc-pulse.com/price-prediction/spell-token-price-prediction/" rel="noopener noreferrer nofollow">techniques </a>by routing user actions through its internal systems, thus enhancing privacy without compromising on security.</p>
<h2 class="wp-block-heading" id="community-engagement-and-security-testing">Community Engagement and Security Testing</h2>
<p>To further bolster the wallet’s <a href="https://btc-pulse.com/zachxbt-appointed-recovered-hacked-security-overhaul/" rel="noopener noreferrer nofollow">security </a>posture, Kraken has encouraged white-hat hackers and security experts to test the platform for potential vulnerabilities. Successful reports and security improvements submitted through the company’s open-source grant program are eligible for rewards, <a href="https://btc-pulse.com/bitcoin-price-surges-70k-whale-activity-diminishes/" rel="noopener noreferrer nofollow">fostering </a>a proactive security culture.</p>
<h2 class="wp-block-heading" id="expansion-and-competition-in-the-crypto-sphere">Expansion and Competition in the Crypto Sphere</h2>
<p>Following the turbulent events in the crypto world, such as the collapse of FTX, Kraken is looking to extend its influence across various sectors within the digital asset industry. The exchange is actively exploring opportunities similar to Coinbase’s Ethereum-based layer 2 networks and investing in Layer 1 projects like Nibiru.</p>
<h2 class="wp-block-heading" id="institutional-ventures-and-regulatory-approvals">Institutional Ventures and Regulatory Approvals</h2>
<p>Kraken is not only enhancing its product offerings but also expanding its institutional footprint. The recent establishment of a division dedicated to large enterprises and efforts to secure a spot Bitcoin ETF highlight Kraken’s ambitious plans. Additionally, the exchange has successfully obtained licenses to operate in new jurisdictions, including the Netherlands and Wyoming, this year alone.</p>

Kraken Launches Open-Source Crypto Wallet to Enhance User Security and Privacy

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