ConsenSys Launches First Institutional Staking Marketplace

<p>ConsenSys, an Ethereum and decentralized protocols software company, has launched what it called the first marketplace for institutional cryptocurrency <a href="https://www.financemagnates.com/terms/s/staking/" class="terms__main-term" id="ebfdd4d9-00b3-41ff-bff5-878cd2eb105f">staking</a>. The marketplace was launched under MetaMask Institutional, the multi-custodial institutional web3 wallet developed by <a href="https://www.financemagnates.com/tag/consensys/" target="_blank" rel="follow">ConsenSys</a>. </p><p>ConsenSys disclosed in a blog update published on Wednesday noted that the marketplace was launched in partnership with non-custodian staking and blockchain node infrastructure provider, Allnodes, blockchain infrastructure firm, Blockdaemon, and enterprise-grade staking platform, Kiln. The institutional staking marketplace is supported by ConsenSys Staking, the software company’s technology for staking. </p><p>In addition, ConsenSys noted that the marketplace has been integrated with 11 custody and self-custody platforms across the world in order to provide institutional investors with “seamless and unrivalled access to staking providers.”</p><p>ConsenSys Seeks to Break Barriers to Institutional Staking</p><p>Speaking on its motive for introducing MetaMask Institutional, ConsenSys explained that <a href="https://www.financemagnates.com/cryptocurrency/institutions-stick-to-crypto-despite-market-upheaval-in-2022/" target="_blank" rel="follow">institutional investors</a> have been discouraged from participating in stalking as a result of varying fees, terms and conditions, rebates and reporting standards offered by vendors. On top of that, various staking service providers offer different benefits to institutions in areas such as infrastructure and certification, among others. However, the company says its marketplace was designed to address these issues.</p><p>“MetaMask Institutional’s staking marketplace will reduce this complexity by streamlining access to top-tier staking providers; offering standardized terms and conditions, institutional-grade reporting; and a simplified staking experience — to facilitate broader institutional web3 participation,” ConsenSys explained. </p><p>Furthermore, ConsenSys noted its plans to launch features, such as institutional controls, portfolio management and digital asset monitoring on its MetaMask Web3 Portfolio dashboard on March 27th.</p><p>ConsenSys Eyes Upcoming Shanghai Upgrade</p><p>According to ConsenSys, <a href="https://www.financemagnates.com/cryptocurrency/news/ethereum-merge-goes-live-eth-touches-1600/" target="_blank" rel="follow">the Ethereum Merge</a> which happened in September last year shot up the total amount of staked Ether (ETH) on the <a href="https://www.financemagnates.com/terms/e/ethereum/" class="terms__secondary-term" id="230aa7bc-daf7-4523-af41-90671a2e79de">Ethereum</a> Blockchain by four million. Currently, the number stands at 17.7 million, the software company noted. The Merge moved the Ethereum blockchain from a Proof-of-Work to a Proof-of-Stake system.</p><p>ConsenSys believes that <a href="https://www.ledger.com/blog/ethereums-shanghai-upgrade-is-coming-what-you-need-to-know" target="_blank" rel="follow">the Shanghai upgrade</a> to the decentralized, open-source blockchain expected sometime this month or next month can boost institutional participation in Ethereum staking. Industry stakeholders expected the upgrade or hard fork to enable ETH holders to un-stake their assets for the first time. This upgrade “will offer greater flexibility and control over assets,” ConsenSys noted.</p> This article was written by Solomon Oladipupo at www.financemagnates.com.

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GCEX and Hex Trust Bolster Partnership to Broaden Staking Services

GCEX, a digital prime brokerage, has expanded its partnership with Hex Trust, an institutional custodian for cryptocurrencies. The announcement follows the companies' initial venture into staking services in April 2023.

Now, their relationship includes an expansion in staking services, offering a broader portfolio of assets to brokers, hedge funds, professional traders and fund managers.

Hex Trust and GCEX Expand Partnership

According to the press release, GCEX will introduce nine additional assets for staking to its institutional and professional clients. The new offering includes Apecoin, Flare and Ethereum. Moreover, GC Exchange A/S has hinted at augmenting the list in response to growing client demands.

"Our bond with Hex Trust, our custody partner for more than two years, is robust and trusted. We are thrilled to meet the rising demand for staking services by widening our staking offerings," Michael Aagaard, the Managing Director of GCEX Denmark, stated expressing his excitement over the partnership expansion. He emphasized GCEX's strategy of driving innovation by teaming up with reputable firms in the industry.

GCEX Group is a digital prime brokerage providing deep liquidity access to FX and CFDs on digital assets to institutional clients. In addition, it offers digital assets spot trading, conversion, and XplorDigital, a digital trading solution. In May, the company gained a new license in Denmark to provide derivatives.

Giorgia Pellizzari, the Head of Custody at Hex Trust, echoed Aagaard's enthusiasm: "It's a pleasure to extend our services to digital asset staking, having served GCEX with custody services for a few years now." She stressed the commitment Hex Trust has towards providing secure and smooth staking services for clients like GCEX via their custody platform, Hex Safe.

GCEX Broadens Cooperation and Employment

Hex Trust is not the only company that has bolstered its partnership with GCEX. Just two months ago, GCEX, led by Lars Holst, enhanced its collaboration with the custody platform, Komainu. The expansion aimed to provide more staking services to their professional clientele.

Komainu is a joint venture between the investment bank Nomura, a hardware tech firm Ledger, and a digital asset investment manager, CoinShares. GCEX first joined forces with Komainu in February 2022, aiming to amplify its crypto custody services.

Meanwhile, GCEX announced Tilman Schultz's appointment as the Head of Partnerships. His role focuses on boosting GCEX's growth in Europe, specifically the recently launched XplorDigital trading solutions.

In April, GCEX disclosed its financial results for the fiscal year ending 31 December 2022. The prime brokerage reported a turnover of £4.5 million, marking a rise of 136 percent from the prior year's figure of £1.9 million. Moreover, GCEX concluded the year with a net profit of £1.5 million, which is a slight increase from the previous fiscal year of £1.42 million.

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Anchorage Digital to support liquid Ether staking

It is the first US bank to facilitate liquid Ether staking, and it is focusing on institutions.

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