Zodia Custody to Offer Staking to Institutional Clients Through Blockdaemon

Cryptocurrency retention supplier Zodia Custody said it volition connection crypto staking to organization clients done an statement with infrastructure supplier Blockdaemon.

The 2 firms are attempting to seizure the increasing organization involvement for staking – the process of offering integer assets to assistance tally a blockchain web successful instrumentality for rewards – according to an emailed announcement connected Tuesday.

Interest astir staking has accrued since the Ethereum blockchain completed its modulation to a proof-of-stake system successful September. Following the network's Shapella upgrade connected April 12, the magnitude of ether (ETH) staked had surged by 4.4 cardinal to 22.58 cardinal ($42 billion) arsenic of May 23.

Zodia Custody, which is simply a subsidiary of U.K-based multinational slope Standard Chartered and is besides backed by Northern Trust and SBI Holdings, claims to beryllium the archetypal bank-owned custodian to connection staking services to organization clients.

In April, Blockdaemon rolled retired a wallet service to assistance fiscal institutions and crypto custodians to steward their assets without needing to store them with a 3rd party.