Wednesday, 19 October 2022 10:00 AM
Company Update
SINGAPORE, SINGAPORE / ACCESSWIRE / October 19, 2022 / Liquid staking protocol, pSTAKE (PSTAKE), is pleased to announce a partnership with Anchorage Digital, a regulated crypto platform providing institutions with integrated financial services and infrastructure solutions and the first crypto company to receive an operational national bank charter in the United States. Now, Anchorage will provide institutions with the ability to securely custody pSTAKE finance's governance token, PSTAKE.
Institutional participation in pSTAKE is an important support to the ecosystem, helping diversify the number of participants involved, and Anchorage's role in providing access will help more institutions safely hold and custody pSTAKE.
pSTAKE is a multi-chain protocol for unlocking liquidity of staked assets and is one of the leading liquid staking solutions for Cosmos and BNB Chain. pSTAKE allows Proof-of-Stake (PoS) asset-holders to receive rewards without sacrificing liquidity of their assets, helping to unlock the full potential of PoS tokens.
"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."
- Diogo Mónica, President and Co-Founder, Anchorage Digital
pSTAKE recently rolled out a liquid staking solution for BNB Chain (BNB). The BNB launch follows the successful rollout of solutions for Ethereum and Cosmos, with solutions for Solana and Avalanche in the pipeline. Anchorage support complements the rapid product development and extends pSTAKE's commitment to provide a holistic liquid staking solution for its users.
"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."
- Tushar Aggarwal, Founder, Persistence
pSTAKE's goal is to build out a highly integrated and accessible ecosystem, which Anchorage will help support through its industry-leading custodial solutions that enable institutional participants to seamlessly plug into pSTAKE. To date, pSTAKE has raised over $20 million between public and strategic token sales. The partnership with Anchorage will help maximize participation in the ecosystem while ensuring users' funds are safeguarded.
About pSTAKE
pSTAKE, developed by Persistence, unlocks liquidity for staked assets. With pSTAKE, holders can securely stake their Proof-of-Stake (PoS) assets and participate in protocol improvements and security to receive staking rewards. At present, pSTAKE supports BNB Chain (BNB), Cosmos (ATOM), Persistence (XPRT), and Ethereum (ETH), with plans to support more PoS blockchains and assets in the future.
About Anchorage Digital
Anchorage Digital is a regulated crypto platform that provides institutions with integrated financial services and infrastructure solutions. With the first federally chartered crypto bank in the US, Anchorage offers institutions an unparalleled combination of secure custody, regulatory compliance, product breadth, and client service. Founded in 2017, Anchorage is valued at over $3 billion with funding from leading institutions, including Andreessen Horowitz, GIC-Singapore's sovereign wealth fund, Goldman Sachs, KKR, and Visa.
Media Contact:
Alex England
[email protected]
Anchorage Digital
[email protected]
SOURCE: pSTAKE