Fireblocks, an enterprise-grade crypto-asset infrastructure platform, announced today it has integrated with Blockdaemon and Staked to add new staking services for over 165 enterprise and institutional customers. The new Fireblocks PoS capabilities will debut with initial support for Polkadot (DOT), Tezos (XTZ), and Eth 2.0.
“Fireblocks already simplifies securing and trading cryptocurrencies, like Bitcoin and Polkadot. With the roll-out of DOT staking, Fireblocks is quickly becoming an all-in-one solution for crypto power users,” said Jack Platts, Co-Founder of Hypersphere Ventures.
Traditionally, setting up staking was complicated and required 2-3 full-time employees to integrate and manage nodes, or turning to a cold storage custodian, which fragments infrastructure, distributes assets across different providers, and limits operational flexibility.
Now, in addition to leveraging Fireblocks’ secure MPC-based wallet technology and Network for crypto custody, settlement, and DeFi, the world’s largest institutional digital asset investors and managers can add staking to earn more revenue from DOT, Tezos or Ethereum 2.0 assets.
“To set up staking, you need the highest degree of security in storing the asset and delegating it to the staking nodes,” said Michael Shaulov, CEO of Fireblocks. “There has been an increase in demand from our customers requesting simple and secure access to these strategies by utilizing their Fireblocks MPC wallet. We are extremely excited to roll out these new staking services on the largest PoS networks, giving our customers an opportunity to enhance their yield by 5% to 15%.”
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Starting today, Fireblocks’ customers will be able to stake DOT, XTZ, and ETH 2.0 tokens all from the Fireblocks platform. The assets will be protected from cyber attacks, internal collusion, and human error while accruing rewards. Users will maintain custody of the funds in their Fireblocks MPC-based wallets with an interface to monitor staking performance on Staked and Blockdaemon.
“Fireblocks is a leading pioneer in providing secure digital infrastructure for institutional trading, lending, and borrowing and we are thrilled to partner with them by supporting customers with our validator staking and node management,” says Konstantin Richter, CEO, and Founder of Blockdaemon.
The Fireblocks team says it will continue to prioritize supporting additional staking protocols in 2021.