Northstake Announces Tokenized Staking on Ethereum Testnet with 3iQ, CoinFund and CoinDesk Indices
COPENHAGEN, Denmark, April 17, 2024 /PRNewswire/ -- Northstake, a regulated custodial virtual asset service provider offering compliant staking products for institutions, has announced the launch of a tokenized ETH staking pilot on the Ethereum testnet, Holesky. The pilot is conducted in collaboration with leading digital asset manager 3iQ, a Canadian investment fund manager, alongside CoinFund and CoinDesk Indices, contributing CESR™, the composite ether staking rate. Industry-leading liquidity providers are currently onboarding with Northstake and will be announced shortly.
- The pilot is conducted in collaboration with leading digital asset manager 3iQ, a Canadian investment fund manager, alongside CoinFund and CoinDesk Indices, contributing CESR™, the composite ether staking rate.
- Northstake demonstrates the capability of tokenized staking to allow regulated institutions to liquidate their Ethereum validator nodes within hours instead of days, while satisfying regulators' requirements.
- Northstake envisions a frictionless marketplace for tokenized Web3 infrastructure and expects the Holesky testnet launch to pave the way for a Mainnet launch later this year.
- Pascal St-Jean , President of 3iQ, stated, "We are happy to be an early testing partner with Northstake on tokenized ETH staking.