According to reports, Kraken, a major operator of cryptocurrency exchanges, is looking for a partner to assist in the development of a new Layer 2 blockchain.
This move comes after rival exchange Coinbase successfully launched their own Layer 2 solution, Base, in February of this year, allowing them to gain a larger market share and expand their revenue streams.
Kraken is considering working with partners such as Polygon, Matter Labs, or Nil Foundation to establish their own Layer 2 network, based on the OP Stack created by the team behind Optimism, as reported by CoinDesk today.
While Kraken has not yet commented on the matter, a spokesperson stated that the company is always looking for new challenges and opportunities in the industry, and is currently hiring a “Senior Cryptography Engineer” who would be responsible for developing and implementing Layer 2 solutions.
