Galaxy Digital Holdings Ltd. (TSX: GLXY) announced it is now included in the set of staking providers integrated with BitGo Trust Company, Inc., a provider of digital asset custody services, enhancing how investors optimize their staked digital assets.
This partnership combines Galaxy’s blockchain infrastructure, lending and trading services with BitGo Trust’s custodial solutions, offering a range of investors the ability to earn staking rewards and “use those staked assets as collateral for loans and other financial products.”
Via this collab, BitGo Trust clients can leverage Galaxy’s staking infrastructure to maximize capital efficiency, enabling them to pursue “growth opportunities with flexibility and reduced cost of capital.”
Zane Glauber, Head of Galaxy’s Blockchain Infrastructure team said:
“This integration underscores Galaxy’s commitment to providing secure and comprehensive financial services tailored to the evolving needs of digital asset investors. By integrating BitGo’s industry-leading custodial solutions with Galaxy’s staking platform, we’re helping investors fully unlock the potential of their digital assets.”
This offering is supported by Galaxy’s Blockchain Infrastructure team, which provides staking and “validator services to qualified investors, protocols, and digital asset platforms and oversees about $4.2 billion in assets under stake.”
With an understanding of blockchain tech and a commitment to security, this partnership aligns “with Galaxy’s ongoing commitment to safeguarding client assets while providing a seamless and secure staking experience for institutional clients.”
Adam Sporn, BitGo’s Head of Prime Brokerage and US Institutional Sales.
“As our institutional clients look for solutions beyond custody we continue to expand our offerings which include staking, tri-party collateral management and financing. We believe working with Galaxy will allow our clients to efficiently custody, stake, and finance their digital asset strategies.”
As covered, Galaxy is a digital asset and blockchain leader providing access to the digital economy.
They aim to serve a diversified client base, “including institutions, startups, and qualified individuals.”
Since 2018, Galaxy has been building a financial platform spanning three operating businesses: Global Markets, Asset Management, and Digital Infrastructure Solutions.
Their offerings reportedly include thefollowing: “trading, lending, strategic advisory services, institutional-quality investment solutions, proprietary bitcoin mining and hosting services, network validator services, and the development of enterprise custodial technology.”
The company is headquartered in New York City, with global offices across North America, Europe, and Asia.
As mentioned in the announcement, BitGo is the infrastructure provider of digital asset solutions, offering “custody, wallets, staking, trading, financing and settlement out of regulated cold storage.”
Founded in 2013, BitGo is the independent digital asset custodian and was the first to focus “exclusively” on serving institutional clients.
BitGo is dedicated to advancing a digital financial services economy “that is borderless and accessible 24/7.”
With regulated entities around the world, BitGo says that it is the security and operational backbone for institutional clients.
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