BridgeTower Capital to Participate in New Persistence Liquid Staking Solution

Persistence, a multi-asset protocol focused on liquid staking, NFTs, and commodities, has partnered with BridgeTower Capital, a global private equity firm focused on blockchain infrastructure and bridging digital assets to traditional institutional investors.

BridgeTower has become a leading institutional participant of Persistence’s new liquid staking product, pSTAKE. pSTAKE unlocks the true potential of proof-of-stake (PoS) tokens by unlocking the liquidity of staked assets–a market currently in excess of $100 billion.

Token holders of pSTAKE-supported PoS networks can mint 1:1 pegged ERC-20 staked representative tokens for their native PoS assets. These assets can then be utilized within the existing Ethereum DeFi ecosystem to generate additional yield. Since its launch in July, more than $5 million in total value has been locked on pSTAKE.

Over the last quarter BridgeTower Capital has allocated more than $200 million to its staking infrastructure and indicated it will aggressively continue to build its services offerings and assets.

Persistence founder and CEO Tushar Aggarwal said he thrilled to see the level of engagement on pSTAKE:

 “There is now over $5 million in total value locked on the protocol, and this continues to rapidly accelerate following the recent launch of the uncapped version of pSTAKE. Our partnership with BridgeTower Capital can help unlock the next exciting phase of growth for the platform and ensure that institutions, as well as the wider crypto community, can benefit from unlocking the liquidity of their staked assets.”

In addition to the pSTAKE integration, the partnership also includes the shared launch of validator nodes for multiple Proof-of-Stake networks. By combining expertise from their respective bases of Singapore and Switzerland, the firms hope to drive the adoption of staking and DeFi solutions globally.

“We have worked hard to create sustainable blockchain infrastructure serving institutional and regulated opportunities,” said BridgeTower CEO Cory Pugh. “We have services across several networks including Algorand, Solana, Polkadot, Avalanche, Akash, Terra and Persistence itself, and are preparing to launch Helium and Ethereum 2.0.”



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