The France-based fintech will expand its global presence and introduce new products
Kiln, a staking platform which allows crypto users to earn rewards while holding certain cryptocurrencies, has raised $17m in its latest funding round.
France-headquartered Kiln will use the fresh funds for its global expansion and new products. Kiln has just announced a new office in Singapore, its first outside of Europe.
The round was led by 1kx, with contributions from IOSG, Crypto.com, Winternute Ventures, KXVC LBank and existing investors. With last year’s round, the fintech has now raised a total of $35m.
As part of its product expansion, Kiln is introducing vNFYs, which enable the tokenisation of dedicated Ethereum validators. It is also developing a product in the DeFi space so select customers can monetise stablecoin rewards opportunities.
Laszlo Szabo, co-founder of Kiln, said in a statement: “I would like to use this opportunity to express my sincere gratitude to our new and existing investors, our valued customers and the entire Kiln team for their trust.
“While our platform currently enables thousands of users to access rewards, our commitment extends to democratizing value creation for millions of individuals, regardless of where their digital assets are held.”