Kiln

What Kiln does

Kiln is a Paris-based institutional digital asset infrastructure company founded in 2018 that provides enterprise-grade validator-as-a-service and yield orchestration across 30+ proof-of-stake networks, including Ethereum, Solana, TON, and Bitcoin. The platform operates multi-client, multi-cloud validator infrastructure with SOC 2 Type II certification, a zero-slashing track record on Ethereum/Solana/TON, and 99.95% effective uptime, supporting more than 5% of the Ethereum network and over $18 billion in cumulative assets delegated. Its core products include Kiln Connect (unified API/SDK), Kiln Validators (VaaS), Kiln Onchain (white-label ETH staking smart contracts), Kiln OmniVault (DeFi yield strategies), Kiln Dashboard (enterprise portfolio management), and Railnet (open yield orchestration layer for regulated asset managers).

Kiln generates revenue primarily through recurring enterprise subscriptions for validator services, white-label infrastructure embedding, and API/SDK access for programmatic integration, with managed-services fees on curated DeFi yield strategies. The company serves four primary institutional segments — custodians (Fireblocks, BitGo, Ledger Enterprise, Coinbase Prime, Anchorage), exchanges (Crypto.com, Binance.US, Bitpanda, SwissBorg), wallets and fintechs (Trust Wallet, Safe, Ledger Live, CoinSwitch, MiniPay), and asset managers (VanEck, CoinShares, 21Shares) — distributing its technology through white-label OEM embedding, API integration, direct enterprise sales, a permissionless dApp, and a no-code widget. Geographic operations span EMEA (headquarters in Paris, France) and Asia-Pacific (regional headquarters in Singapore, established 2024), with customers across India, Latin America, Turkey, Japan, and Hong Kong. Kiln has raised approximately $35 million in total funding across a $5 million seed round (2022) and a $17 million Series A led by 1kx (January 2024), and employs 51–100 people.

Name

Kiln

Legal name

Kiln

Website

https://kiln.fi

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

51–100 employees

Short description

Kiln is a Paris-based institutional digital asset infrastructure company providing enterprise-grade validator-as-a-service and yield orchestration across 30+ proof-of-stake networks. It serves custodians, exchanges, wallets, and asset managers through white-label APIs and white-label staking products, having processed over $18 billion in cumulative assets delegated.

Ownership category

akta.pro rank

Product category

Institutional Crypto Staking Infrastructure

NAICS

Securities and Commodity Exchanges (523210)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Staking Infrastructure & Validator Enablement (Middleware, Slashing Protection, MEV Relays) (FSADAHAJ)

akta.pro secondary industries

Staking-as-a-Service (Managed Staking Providers) (FSADAOAK), Staking-as-a-Service Platforms (Non-Custodial) (FSADAHAF), Yield Aggregators, Auto-Compounding & Strategy Vaults (DeFi Yield) (FSADAHAK), Wallet Infrastructure (SDKs, Wallet-as-a-Service) (FSADACAD)

Keywords

• Institutional staking infrastructure
• Validator-as-a-service
• White-label yield platform
• Enterprise crypto custody
• Onchain asset management

Headquarters

HQ city

Paris

HQ country

France

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Infrastructure, Operations, Marketing or Sales

Revenue model

1. Validator-as-a-Service (VaaS): Enterprise-grade validators-as-a-service on all PoS chains. Institutions delegate validator operations to Kiln while maintaining custody of assets with their existing providers.
2. White-label Infrastructure: Whitelabel staking infrastructure embedded into platforms (custodians, wallets, exchanges) who offer staking products to their users. Kiln handles all backend infrastructure.
3. API and SDK Access: One SDK for staking, rewards and more on all protocols. Platforms integrate Kiln Connect for programmatic access to yield sources.
4. DeFi Yield Products: Access to curated DeFi yield strategies and vault infrastructure for institutional clients seeking diversified onchain yield.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

Kiln provides enterprise-grade institutional staking infrastructure and onchain yield management across 30+ proof-of-stake networks. Its core products are Validator-as-a-Service, a unified API/SDK (Kiln Connect), a portfolio Dashboard, white-label ETH staking smart contracts, no-code Embed Widgets, and the Railnet orchestration layer for asset managers. Customers — custodians, exchanges, wallets, and asset managers — integrate Kiln to offer staking and DeFi yield products under their own brand while Kiln runs the validator infrastructure, monitoring, compliance reporting, and reward accounting.

Product overview

Kiln is an institutional onchain asset and yield management platform providing a comprehensive suite of products for earning rewards on digital assets. The platform operates on a modular architecture consisting of core infrastructure products (Kiln Validators for enterprise-grade staking-as-a-service, Kiln Onchain for whitelabel ETH staking, Kiln OmniVault for DeFi vault strategies), access products (Kiln Dashboard for portfolio management, Kiln Widget for no-code Earn section creation, Kiln Connect SDK for API integration), and developer tools (Reporting API, Transaction Crafting API, Open Source Validator Watchers). Railnet serves as the open yield orchestration layer enabling programmable asset management. With over $18 billion in assets delegated (ATH), Kiln supports 30+ PoS networks including Ethereum, Solana, TON, and Bitcoin staking, while maintaining SOC 2 Type II certification and zero slashing events on Ethereum, Solana, and TON.

Differentiator

Problem solved

Functional benefit

Brands

• Railnet: Open yield layer for asset managers to build and deploy onchain strategies
• OmniVault
• Kiln Ventures
• Kiln Connect

Products and services

• Kiln Validators Enterprise-grade Validator-as-a-Service on 30+ proof-of-stake networks. Institutions delegate validator operations to Kiln while maintaining custody of assets with their existing providers. Supports dedicated or shared validators with 99.95% effective uptime, zero slashing events, and SOC 2 Type II controls.
• Kiln Connect One TypeScript SDK/API for staking, rewards, and yield across all supported protocols. Enables programmatic integration of staking and Earn programs with real-time reporting, and supports AI-agent integration via llms.txt and an MCP Server.
• Kiln Dashboard Web-based enterprise dashboard for tracking Earn programs. Provides real-time portfolio monitoring, rebalancing, compliance-ready reporting, and role-based permissions for institutional teams managing staking and yield positions.
• Kiln Onchain White-label ETH staking smart contracts that let platforms offer dedicated validators (32+ ETH), a staking pool (less than 32 ETH), or a liquid staking pool with a custom liquid staking token under their own brand.
• Kiln Widget No-code white-label widget that lets platforms add an Earn section to their product in a day without engineering work, with a unified API spanning all assets and yield sources.
• Kiln OmniVault Bespoke vault infrastructure to access curated DeFi yield and strategies across protocols on all assets, earning rewards from DeFi strategies for institutional clients. Formerly known as Kiln DeFi.
• Railnet Open yield orchestration layer for asset managers to build and deploy onchain strategies. Enables combining DeFi protocol yields with tokenized real-world assets within a regulated framework (e.g., MiCA).
• Kiln Restaking and Bitcoin Staking Restaking and white-label restaking services including BTC staking on the Babylon protocol, giving institutional clients multiple staking options on Bitcoin assets.
• Kiln dApp Permissionless 1-click ETH (re)staking interface with the lowest fees, targeting DeFi users and smaller validators who want maximum rewards without an institutional contract.
• Reporting API Real-time data and reporting API for tracking staking positions across all supported PoS networks, used by institutional clients for compliance and performance reporting.
• Transaction Crafting API API that simplifies staking and unstaking transactions on all PoS blockchains by automating transaction handling, used by platforms integrating Kiln's staking infrastructure.

Quantifiable outcome

• $18B+ assets delegated (ATH) through platform
• +4 more outcomes

Named customers20 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

AI capability3 records

Feature8 records

Partnerships

29 partnerships are on record, tiered flagship and core.

• CoinSharesflagshipStrategic or Co-development Partner · 18 March 2026Strategic partnership where CoinShares uses Kiln's Railnet orchestration layer to launch an on-chain asset management strategy combining DeFi and tokenized real-world asset yields. First regulated European asset manager to combine DeFi protocol yields with tokenized RWAs.
• CoinSharesflagshipTechnology or Integration · 18 March 2026CoinShares built its on-chain vault strategy using Kiln's Railnet protocol, integrating multiple yield sources within a MiCA-compliant framework.
• FireblockscoreTechnology or IntegrationMajor custody platform integrating Kiln's staking infrastructure, enabling Fireblocks' institutional clients to access staking services.
• BitGocoreTechnology or IntegrationInstitutional custody platform partnering with Kiln to offer staking on main PoS blockchains including Ethereum.
• Ledger EnterprisecoreTechnology or IntegrationEnterprise custody solution integrated with Kiln, enabling Ledger's institutional clients to earn yield on custodied assets.
• Coinbase PrimecoreTechnology or IntegrationPrime brokerage platform offering Kiln-powered staking to institutional clients.
• AnchoragecoreTechnology or IntegrationDigital asset custodian integrated with Kiln for institutional staking services.
• VanEckcoreTechnology or IntegrationAsset manager using Kiln to power institutional staking for VanEck's Solana Strategy ETP.
• SafecoreTechnology or IntegrationSafe{Wallet} integrates Kiln for ETH staking and SG-FORGE Euro stablecoin yield products for multisig treasuries.
• Trust WalletcoreTechnology or IntegrationMobile wallet with 200M+ users accessing stablecoin yield through Kiln DeFi integration for Trust Wallet's Earn feature.
• KomainucoreTechnology or IntegrationRegulated digital asset custodian offering staking initially on Ethereum and Tezos through Kiln infrastructure.
• BitpandacoreTechnology or IntegrationEuropean fintech platform offering Kiln-powered DeFi yield products in its new web3 wallet.
• FlowdeskcoreTechnology or IntegrationCrypto market maker using Kiln infrastructure for staking and yield management.
• SCRYPT DigitalcoreTechnology or IntegrationDigital asset management firm integrating Kiln staking services.
• Ledger LivecoreTechnology or IntegrationLedger's desktop and mobile app integrates Kiln for non-custodial stablecoin yield, allowing Ledger users to earn yield on their assets.
• CoppercoreTechnology or IntegrationCustody platform partnering with Kiln for institutional TON and major PoS blockchain staking.
• Zodia CustodycoreTechnology or IntegrationInstitutional custody platform offering staking on TON and major PoS blockchains via Kiln integration.
• CoinSwitchcoreTechnology or IntegrationIndia's largest crypto platform (20M+ users) using Kiln to power staking services.
• OSLcoreTechnology or IntegrationHong Kong-based digital asset platform offering enterprise-grade ETH staking through Kiln.
• BitsocoreTechnology or IntegrationLatin American crypto exchange enabling staking on favorite digital assets powered by Kiln.
• Paribu CustodycoreTechnology or IntegrationTurkish custody platform bringing enterprise-grade staking to institutional clients through Kiln.
• MiniPaycoreTechnology or IntegrationCelo-based wallet using Kiln to power stablecoin earn product targeting 1.3B unbanked globally.
• io.finnetcoreTechnology or IntegrationFinnish fintech leveraging Kiln Widget for enterprise-grade staking solutions.
• FordeficoreTechnology or IntegrationInstitutional wallet supporting TON staking using Kiln Dashboard via TON Connect integration.
• LidocoreTechnology or IntegrationKiln joined Lido v3 as a node operator, running validators for the largest liquid staking protocol.
• OKCoin JapancoreTechnology or IntegrationJapanese exchange partnering with Kiln to launch as Canton Network validator.
• MonarqcoreTechnology or IntegrationMarket-neutral BTC yield product accessible through Kiln's infrastructure.
• ChainlinkcoreTechnology or IntegrationKiln integrates Chainlink CRE (Runtime Environment) and ACE to power next-generation onchain yield products.
• TurnkeycoreTechnology or IntegrationEmbedding yields and monetization into wallets through Turnkey's institutional-grade wallet infrastructure.

Scale indicators8 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Allnodes: Allnodes offers non-custodial staking and dedicated validator hosting across many PoS networks. Comparable to Kiln in validator-as-a-service offerings, though more retail/semi-institutional in GTM.
• Blockdaemon: Blockdaemon (merged with Figment) provides enterprise-grade node infrastructure and staking services across multiple PoS networks. Competes directly with Kiln's validator-as-a-service and white-label infrastructure offerings.
• Staking Facilities: Staking Facilities (formerly by Kraken) is a German-based institutional staking provider offering non-custodial validator services across PoS networks, comparable to Kiln's enterprise validator business.
• P2P.org: P2P.org is a major institutional staking provider and validator across Ethereum, Cosmos, Polkadot, and other networks. Directly comparable to Kiln in validator infrastructure, white-label services, and institutional client base.
• Figment: Figment is a leading institutional blockchain infrastructure provider offering staking-as-a-service across 50+ networks. Direct competitor to Kiln in the enterprise validator infrastructure market serving custodians, exchanges, and asset managers.
• Everstake: Everstake provides institutional staking infrastructure across 30+ PoS networks with a similar white-label/API model to Kiln. Targets similar custodians, exchanges, and wallets as Kiln.

Broad incumbents

• Lido: Lido is the largest liquid staking protocol; Kiln operates as a node operator within Lido v3. Lido competes indirectly via liquid staking tokens (stETH) while also being a Kiln partner, creating an overlap that competes for institutional yield flows.
• Coinbase Cloud: Coinbase Cloud (formerly Bison Trails) provides staking infrastructure for institutional clients and is part of Coinbase—the largest US exchange. As both a Kiln customer and a competitor, it represents the vertical-integration threat to white-label infrastructure providers.

Emerging players

• Marinade Finance: Marinade is a liquid staking protocol on Solana where Kiln operates as a validator. Comparable to OmniVault's DeFi yield layer in offering programmatic staking access to institutional and DeFi clients.

Regional players

• Zodia Custody: Zodia is a Standard Chartered-backed regulated institutional custodian. While primarily a custodian, it offers staking via Kiln integration and competes for institutional staking flows in the UK/Europe with Kiln-powered products.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks3 records

Key highlights7 records

Customer concentration

• Xx.com/Kiln_finance
• GitHubgithub.com/kilnfi
• LinkedInlinkedin.com/company/kiln-fi

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds4 records

Investors21 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments7 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Kiln