The institutional staking platform Kiln has completed a $17 million financing round, led by 1kx

ChainCatcher news, according to The Block, the institutional staking platform Kiln announced the completion of a $17 million financing round, led by 1kx, with participation from IOSG Ventures, Crypto.com, Wintermute Ventures, KXVC, LBank, and existing investors.

It is reported that the new funding will be used to finance Kiln's global expansion, including developing its regional division by establishing an Asia-Pacific (APAC) headquarters in Singapore in the first quarter of 2024, as well as further developing its products by expanding its platform to incorporate various reward mechanisms within DeFi.