Kraken was selected by the American Department of Commerce to facilitate a revolutionary initiative unveiled this morning by President Donald Trump and secretary Howard Lux. The initiative, which will distribute American data from raw interior products (GDP) on nine large public blockchains, marks an important step in using blockchain technology to improve transparency of economic data.
As part of this historic effort, Kraken joined the Ministry of Commerce as a client and helped the department obtain cryptocurrencies – notably Bitcoin (BTC), Ethereum (ETH), Solana (Sol), Avalanche (Avx), Stellar (XLM), Polygon (POL) and Tron (TRX) – to pay transaction costs for data edition.
By registering hash critical economic information, the Ministry of Commerce ensures that American GDP data is verifiable, resistant to the hoof and accessible worldwide. This establishes a new standard of transparency in government reports.
“It’s a historic moment for our industry and our country,” said Arjun Sethi, Kraken Co-PDG. “We congratulate President Trump and Secretary Lutnick for their vision in the delivery of this initiative, and we are honored to play a role in its execution. By exploiting blockchain technology to distribute GDP data, the United States gives a global example of the way in which transparency, confidence and innovation can come together to generate progress. “
“Today’s announcement is a powerful example of how the government and industry can work together to advance innovation through the world economy,” said Jonathan Jacyhm, a global official for politicians and government relations. “The message is clear: blockchain technology is not only the future of financial infrastructure, it now becomes the present.”
The initiative reflects the broader commitment of the Trump administration to integrate blockchain technology into critical government functions, strengthening the position of the United States as a world leader in digital innovation. It also marks an important step for an economy of the G7 using public blockchains to disseminate official economic statistics.
Kraken remains determined to provide secure, reliable and effective services to support the Ministry of Commerce in this project and any future initiative.
