Cryptocurrency trading firm Galaxy Digital (GLXY) is expanding its blockchain staking platform for large institutional customers with help from crypto custody specialists Fireblocks, the companies said Wednesday.
With the integration, Galaxy’s staking services are now natively accessible to the more than 2,000 of the world’s largest financial institutions that use Fireblocks to stake digital assets directly from their Fireblocks custody vaults, the statement said.
Staking crypto assets on blockchains, a way of supporting the way transactions are validated on a decentralized network in return for yield, is growing among institutional investors, particularly under a crypto-friendly administration in the U.S.
Galaxy said it currently holds around $2.3 billion of crypto assets under stake, and the Fireblocks deal is its third custodial integration this year, following tie-ups with Zodia Custody and BitGo.
“This Fireblocks integration represents a significant step forward in Galaxy’s mission to make secure and capital-efficient staking available where institutions custody their digital assets,” said Zane Glauber, head of blockchain infrastructure at Galaxy.
#Crypto #Trading #Firm #Galaxy #Digital #GLXY #Expands #Institutional #Staking #Fireblocks