Kraken has been selected by the U.S. Department of Commerce to facilitate a groundbreaking initiative unveiled this morning by President Donald Trump and Secretary Howard Lutnick. The initiative, which will distribute U.S. gross domestic product (GDP) data on nine major public blockchains, marks a milestone in the use of blockchain technology to enhance transparency in economic data.
As part of this historic effort, Kraken has onboarded the Department of Commerce as a client and helped the department procure cryptocurrencies — including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Avalanche (AVAX), Stellar (XLM), Polygon (POL) and Tron (TRX) — to pay for the transaction fees required for publishing cryptographic proofs of GDP data.
By recording hashes of this critical economic information onchain, the Department of Commerce is ensuring that U.S. GDP data is verifiable, tamper-resistant and globally accessible. This sets a new standard for transparency in government reporting.
“This is a landmark moment for both our industry and our country,” said Arjun Sethi, Kraken co-CEO. “We commend President Trump and Secretary Lutnick for their vision in bringing this initiative to life, and we are honored to play a role in its execution. By harnessing blockchain technology to distribute GDP data, the U.S. is setting a global example of how transparency, trust and innovation can come together to drive progress.”
“Today’s announcement is a powerful example of how government and industry can work together to advance innovation across the global economy,” said Jonathan Jacyhm, Kraken Global Head of Policy and Government Relations. “The message is clear: Blockchain technology is not just the future of financial infrastructure, it is now becoming the present.”
The initiative reflects the Trump Administration’s broader commitment to integrating blockchain technology into critical government functions, reinforcing the United States position as a global leader in digital innovation. It also marks a milestone for a G7 economy using public blockchains to disseminate official economic statistics.
Kraken remains committed to providing secure, reliable and efficient services to support the Department of Commerce in this project and any future initiatives.
