P2P.org, a staking service, announced that its Staking-as-a-Business (SaaB) model for institutions is already operational.The product is designed to assist platforms such as exchanges, wallet providers, and custodians in expanding their business opportunities by integrating staking and decentralized finance (DeFi) services.The business claimed to have more than a million staked Ethereum (ETH) and to have recently crossed the $7.4 billion total value locked, or TVL, threshold.
By staking their bitcoin assets, investors can generate passive income without having to sell them.The way institutional staking works is similar, except it happens in bulk.Staking providers come in two varieties: non-custodial and custodial.A press announcement stated that in addition to staking infrastructure, the SaaB model will include marketing, legal, and sales support.
“This holistic support ensures a smooth transition for businesses venturing into staking & Defi services, guaranteeing a successful and profitable implementation,” said Artemiy Parshakov, head of product at P2P.org.
In April of last year, P2P.org received $23 million in funding from three major players in the cryptocurrency space, including Jump Crypto.In the past year, several more institutional staking firms have emerged; Northstake, for example, raised $3 million from PreSeed Ventures.According to the news announcement, P2P.org is a validator for Ethereum and thirty other blockchains.