ConsenSys Launches First Institutional Staking Marketplace

Wednesday, 22/03/2023 | 22:15 GMT by Solomon Oladipupo
  • The marketplace was launched in partnership with Allnodes, Blockdaemon and Kiln.
  • ConsenSyn to introduce new features to MetaMask Web3 Portfolio dashboard on March 27th.
Ethereum

ConsenSys, an Ethereum and decentralized protocols software company, has launched what it called the first marketplace for institutional cryptocurrency staking . The marketplace was launched under MetaMask Institutional, the multi-custodial institutional web3 wallet developed by ConsenSys.

ConsenSys disclosed in a blog update published on Wednesday noted that the marketplace was launched in partnership with non-custodian staking and blockchain node infrastructure provider, Allnodes, blockchain infrastructure firm, Blockdaemon, and enterprise-grade staking platform, Kiln. The institutional staking marketplace is supported by ConsenSys Staking, the software company’s technology for staking.

In addition, ConsenSys noted that the marketplace has been integrated with 11 custody and self-custody platforms across the world in order to provide institutional investors with “seamless and unrivalled access to staking providers.”

ConsenSys Seeks to Break Barriers to Institutional Staking

Speaking on its motive for introducing MetaMask Institutional, ConsenSys explained that institutional investors have been discouraged from participating in stalking as a result of varying fees, terms and conditions, rebates and reporting standards offered by vendors. On top of that, various staking service providers offer different benefits to institutions in areas such as infrastructure and certification, among others. However, the company says its marketplace was designed to address these issues.

“MetaMask Institutional’s staking marketplace will reduce this complexity by streamlining access to top-tier staking providers; offering standardized terms and conditions, institutional-grade reporting; and a simplified staking experience — to facilitate broader institutional web3 participation,” ConsenSys explained.

Furthermore, ConsenSys noted its plans to launch features, such as institutional controls, portfolio management and digital asset monitoring on its MetaMask Web3 Portfolio dashboard on March 27th.

ConsenSys Eyes Upcoming Shanghai Upgrade

According to ConsenSys, the Ethereum Merge which happened in September last year shot up the total amount of staked Ether (ETH) on the Ethereum Blockchain by four million. Currently, the number stands at 17.7 million, the software company noted. The Merge moved the Ethereum blockchain from a Proof-of-Work to a Proof-of-Stake system.

ConsenSys believes that the Shanghai upgrade to the decentralized, open-source blockchain expected sometime this month or next month can boost institutional participation in Ethereum staking. Industry stakeholders expected the upgrade or hard fork to enable ETH holders to un-stake their assets for the first time. This upgrade “will offer greater flexibility and control over assets,” ConsenSys noted.

ConsenSys, an Ethereum and decentralized protocols software company, has launched what it called the first marketplace for institutional cryptocurrency staking . The marketplace was launched under MetaMask Institutional, the multi-custodial institutional web3 wallet developed by ConsenSys.

ConsenSys disclosed in a blog update published on Wednesday noted that the marketplace was launched in partnership with non-custodian staking and blockchain node infrastructure provider, Allnodes, blockchain infrastructure firm, Blockdaemon, and enterprise-grade staking platform, Kiln. The institutional staking marketplace is supported by ConsenSys Staking, the software company’s technology for staking.

In addition, ConsenSys noted that the marketplace has been integrated with 11 custody and self-custody platforms across the world in order to provide institutional investors with “seamless and unrivalled access to staking providers.”

ConsenSys Seeks to Break Barriers to Institutional Staking

Speaking on its motive for introducing MetaMask Institutional, ConsenSys explained that institutional investors have been discouraged from participating in stalking as a result of varying fees, terms and conditions, rebates and reporting standards offered by vendors. On top of that, various staking service providers offer different benefits to institutions in areas such as infrastructure and certification, among others. However, the company says its marketplace was designed to address these issues.

“MetaMask Institutional’s staking marketplace will reduce this complexity by streamlining access to top-tier staking providers; offering standardized terms and conditions, institutional-grade reporting; and a simplified staking experience — to facilitate broader institutional web3 participation,” ConsenSys explained.

Furthermore, ConsenSys noted its plans to launch features, such as institutional controls, portfolio management and digital asset monitoring on its MetaMask Web3 Portfolio dashboard on March 27th.

ConsenSys Eyes Upcoming Shanghai Upgrade

According to ConsenSys, the Ethereum Merge which happened in September last year shot up the total amount of staked Ether (ETH) on the Ethereum Blockchain by four million. Currently, the number stands at 17.7 million, the software company noted. The Merge moved the Ethereum blockchain from a Proof-of-Work to a Proof-of-Stake system.

ConsenSys believes that the Shanghai upgrade to the decentralized, open-source blockchain expected sometime this month or next month can boost institutional participation in Ethereum staking. Industry stakeholders expected the upgrade or hard fork to enable ETH holders to un-stake their assets for the first time. This upgrade “will offer greater flexibility and control over assets,” ConsenSys noted.

About the Author: Solomon Oladipupo
Solomon Oladipupo
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About the Author: Solomon Oladipupo
Solomon Oladipupo is a journalist and editor from Nigeria that covers the tech, FX, fintech and cryptocurrency industries. He is a former assistant editor at AgroNigeria Magazine where he covered the agribusiness industry. Solomon holds a first-class degree in Journalism & Mass Communication from the University of Lagos where he graduated top of his class.
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