ConsenSys, an Ethereum and
decentralized protocols software company, has launched what it called the first
marketplace for institutional cryptocurrency staking . The marketplace was
launched under MetaMask Institutional, the multi-custodial institutional web3
wallet developed by ConsenSys.
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.
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.”
Speaking on its motive for
introducing MetaMask Institutional, ConsenSys explained that institutional investors 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.
“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.
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.
ConsenSys Eyes Upcoming Shanghai Upgrade
According to ConsenSys, the Ethereum Merge which happened in September
last year shot up the total amount of staked Ether (ETH) on the Ethereum
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.
ConsenSys believes that the
Shanghai upgrade 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.
ConsenSys, an Ethereum and
decentralized protocols software company, has launched what it called the first
marketplace for institutional cryptocurrency staking . The marketplace was
launched under MetaMask Institutional, the multi-custodial institutional web3
wallet developed by ConsenSys.
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.
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.”
Speaking on its motive for
introducing MetaMask Institutional, ConsenSys explained that institutional investors 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.
“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.
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.
ConsenSys Eyes Upcoming Shanghai Upgrade
According to ConsenSys, the Ethereum Merge which happened in September
last year shot up the total amount of staked Ether (ETH) on the Ethereum
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.
ConsenSys believes that the
Shanghai upgrade 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.