Oct 20, 2022 06:50
Liquid staking protocol pSTAKE finance has partnered with Anchorage Digital, a regulated cryptocurrency platform providing institutions with integrated financial services and infrastructure solutions. Anchorage was the first crypto company to receive an operational national bank charter in the US.
Following the partnership, Anchorage will allow institutions to securely hold pSTAKE finance’s governance token, PSTAKE, which is an important support for the pSTAKE economy. Besides providing an opportunity for institutions to participate in pSTAKE finance, it also expands the number of participants.
pSTAKE ecosystem rapidly expanding
Being a multi-chain protocol for unlocking liquidity for staked assets, pSTAKE is one of the leading staking solutions for BNB Chain and Cosmos. It allows Proof-of-Stake (PoS) asset-holders to receive rewards without sacrificing the liquidity of their assets. This unlocks the full potential of PoS tokens.
Commenting on the partnership, the President and Co-Founder of Anchorage Digital, Diogo Mónica, said:
“Institutions are especially interested in participating in the Cosmos ecosystem, and Anchorage is mission-driven to give them access to the many staking protocols emerging, including pSTAKE.”
Commenting on the advantages of the partnership, the Founder of Persistence, Tushar Aggarwal, said:
“Anchorage has proved to be the industry-leading digital asset custodian, and we are delighted to partner with them to accelerate the next phase of growth for pSTAKE. Anchorage brings both security and a strong user experience, and we’re pleased institutions can now leverage pSTAKE’s liquid staking solution to maximize capital efficiency for their assets. A win-win for both ecosystems.”
The most recent liquid staking solution to be added to pSTAKE is the stkBNB, which is a BNB liquid staking solution. Earlier, the protocol added liquidity staking solutions for Cosmos and Ethereum which just transitioned from being a proof-of-work (PoW) token to a PoS token after the Merge upgrade.
pSTAKE has raised more than $20 million through public and strategic token sales and it aims at building a highly integrated and accessible ecosystem. Anchorage will help by providing industry-leading custodial solutions for institutions.
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