London-based Cryptocurrency storage provider Zodia Custody said it will offer crypto staking to institutional clients via a collaboration with infrastructure provider Blockdaemon.
In a recent announcement, the duo partnership aims to tap into the rising institutional demand for staking, which involves providing digital assets to support blockchain networks and earning rewards in return
Since the Ethereum blockchain’s shift to a proof-of-stake system in September, interest has grown significantly, with a surge of 4.4 million ETH to a total of 22.58 million ETH ($42 billion) staked as of May 23, following the network’s Shapella upgrade on April 12.
Zodia Custody, an affiliate of the renowned multinational bank Standard Chartered and backed by Northern Trust and SBI Holdings, proudly confirms its position as the first bank-owned custodian to offer staking services to institutional clients.
However, Blockdaemon, on the other hand, recently introduced a wallet service crafted to help financial firms and crypto custodians in securely managing their assets without relying on third-party storage