Northstake Announces Tokenized Staking on Ethereum Testnet with 3iQ, CoinFund and CoinDesk Indices - Seite 2

Northstake intends to leverage CoinDesk's standardized USD-denominated reference rate for spot Ether and the Composite Ether Staking Rate to ensure transparent settlement prices between buyers and sellers.

Alan Campbell, President of CoinDesk Indices, commented, "CESR, which the marketplace has adopted for benchmarking,  OTC derivatives, and research, is ready to enhance stability and risk management in staking products like those offered by Northstake."

CoinFund, a Web3 and cryptonative investment firm and registered investment adviser, recognizes the regulatory considerations that exist for fund managers when engaging in staking. Chris Perkins, President of CoinFund, remarked, "We are excited about tokenized staking as one of the pathways to regulatory-compliant staking for exchange-traded funds like 3iQ and other financial institutions. This is facilitated by having an institutional reference rate for the crypto asset class, like CESR."

As a next step, Northstake is in talks with digital asset ETF providers and liquidity providers, and is onboarding new partners to expand its offerings and customer base. Additionally, Northstake is actively negotiating the distribution of tokenized staking solutions with leading digital asset custodians.

Since beginning operations in 2021, Northstake has experienced remarkable growth. Having raised $3M in funding in 2023, the company has since announced collaborations with Fireblocks, Chainalysis, NEAR Protocol, Flare Network, and Polygon. Coupled with its expanding network presence and strong financial backing, the company is well-positioned for further growth and success.

Jesper Johansen, CEO & Founder of Northstake is available for interviews. 

About Northstake A/S
Northstake A/S is a regulated, custodial, virtual asset service provider offering compliant staking products for institutions. Northstake offers a variety of investment vehicles including single, multi-asset, thematic staking, and yield-generating products in addition to a suite of OTC and algorithmic trading services. Based in Denmark, Northstake acts as a bridge between traditional finance and the crypto world, simplifying and securing the way institutions invest in crypto. Through its proprietary multi-chain crypto staking platform, it carves out accessible pathways for investors to build yield-generating crypto products, giving investors the opportunity to be part of building the economies of tomorrow. Northstake A/S (VASP, FTID: 17520) is regulated under the Danish Financial Supervisory Authority (DFSA) and the 5th EU Anti-Money Laundering Directive (AMLD5) and have recently achieve initial approval for its VASP licens under Virtual Asset Regulatory Authority (VARA) in Dubai.