Zodia Custody to Offer Staking to Institutional Clients Through Blockdaemon
The firm said it is the first bank-owned custodian to offer staking services to institutional clients.
Cryptocurrency storage provider Zodia Custody said it will offer crypto staking to institutional clients through an agreement with infrastructure provider Blockdaemon.
The two firms are attempting to capture the growing institutional interest for staking – the process of offering digital assets network in return for rewards – according to an emailed announcement on Tuesday.
Interest around staking has increased since the Ethereum blockchain completed its transition to a in September. Following the network's Shapella upgrade on April 12, by 4.4 million to 22.58 million ($42 billion) as of May 23.
Zodia Custody, which is a subsidiary of U.K-based multinational bank Standard Chartered and is also backed by Northern Trust and SBI Holdings, claims to be the first bank-owned custodian to offer staking services to institutional clients.
In April, Blockdaemon to help financial institutions and crypto custodians to steward their assets without needing to store them with a third party.
Read More:
Edited by Sheldon Reback.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
A Physical Dogecoin Could Reach the Moon in December
Dogecoin community plans to send a physical token to the moon in a December mission by space payload transporter Astrobotic.
Bitcoin Is Coming to Sushi as DeFi Platform Expands to ZetaChain
The move allows users to access the liquidity of bitcoin on decentralized finance (DeFi) without going through intermediaries like wrappers.
