Kraken has been chosen by the U.S. Division of Commerce to facilitate a groundbreaking initiative unveiled this morning by President Donald Trump and Secretary Howard Lutnick. The initiative, which is able to distribute U.S. gross home product (GDP) knowledge on 9 main public blockchains, marks a milestone in using blockchain expertise to boost transparency in financial knowledge.
As a part of this historic effort, Kraken has onboarded the Division of Commerce as a consumer and helped the division procure cryptocurrencies — together with Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Avalanche (AVAX), Stellar (XLM), Polygon (POL) and Tron (TRX) — to pay for the transaction charges required for publishing cryptographic proofs of GDP knowledge.
By recording hashes of this important financial data onchain, the Division of Commerce is guaranteeing that U.S. GDP knowledge is verifiable, tamper-resistant and globally accessible. This units a brand new customary for transparency in authorities reporting.
“This can be a landmark second for each our trade and our nation,” mentioned Arjun Sethi, Kraken co-CEO. “We commend President Trump and Secretary Lutnick for his or her imaginative and prescient in bringing this initiative to life, and we’re honored to play a task in its execution. By harnessing blockchain expertise to distribute GDP knowledge, the U.S. is setting a worldwide instance of how transparency, belief and innovation can come collectively to drive progress.”
“Right now’s announcement is a strong instance of how authorities and trade can work collectively to advance innovation throughout the worldwide financial system,” mentioned Jonathan Jacyhm, Kraken World Head of Coverage and Authorities Relations. “The message is evident: Blockchain expertise is not only the way forward for monetary infrastructure, it’s now turning into the current.”
The initiative displays the Trump Administration’s broader dedication to integrating blockchain expertise into important authorities features, reinforcing america place as a worldwide chief in digital innovation. It additionally marks a milestone for a G7 financial system utilizing public blockchains to disseminate official financial statistics.
Kraken stays dedicated to offering safe, dependable and environment friendly companies to assist the Division of Commerce on this undertaking and any future initiatives.
