For institutional investors looking for where to stake Ethereum and other cryptocurrencies, Zodia Custody has announced the launch of “Zodia Custody Yield,” which enables institutional clients to earn income by staking their crypto assets. Zodia Custody, a subsidiary of the British multinational financial services company Standard Chartered, is offering this latest service in collaboration with OpenEden. Let’s delve deeper into the significance of this service.
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Understanding Staking
In the realm of cryptocurrencies, staking refers to the process where crypto owners lock up their digital assets for a specified duration. This lock-up period serves a crucial purpose: securing and validating transactions on the blockchain network. As a reward for their contribution to the network’s security and efficiency, these crypto holders receive payouts in the form of additional tokens.
A Blend Of Income Potential With Security
Zodia Custody is renowned for providing custody services for institutional investors, tailored to digital assets including cryptocurrencies and stablecoins. Offering yield on its client’s crypto holdings marks a pivotal milestone. It opens doors for institutional investors to potentially accrue income from on-chain assets held in custody by Zodia.
Partnership With OpenEden
Zodia’s Yield offering is a collaborative effort with OpenEden, a crypto startup founded by former Gemini executives, Jeremy Ng and Eugene Ng. OpenEden offers a comprehensive trading platform that extends exposure to tokenize Treasury Bills, smart contract vaults, and its own native cryptocurrency, TBILL.
Conclusion
Zodia and other companies like it continue to pave the way for innovation in the realm of digital assets, particularly in catering to the needs of institutional investors. A subsidiary of leading British multinational financial services company Standard Chartered, Zodia Custody recently expanded its services to Singapore. With registrations in the U.K., Ireland, and Luxembourg, Zodia stands as a testament to the growing intersection of traditional finance and the cryptocurrency ecosystem.
In an ever-evolving financial landscape, Zodia Custody Yield adds another layer of sophistication, providing institutional investors with a secure and potentially lucrative means to harness the power of digital assets.
