Ethereum development house ConsenSys is being backed by heavy hitters like Binance and Huobi to test its new “staking-as-a-service” offering, designed to make it easy for institutions to earn income from the next iteration of the second-largest public blockchain.
Announced Tuesday, the Eth 2.0 staking pilot from ConsenSys Codefi includes Binance, Huobi Wallet, Matrixport, Crypto.com, DARMA Capital and Trustology.
This first batch of participants will provide feedback and feature requests to Codefi as it builds out its Eth 2.0 staking API, which is targeted at large exchanges, wallet providers, custodians and crypto hedge funds. Existing Proof-of-Stake (PoS) blockchains such as Tezos, Cosmos and Algorand won’t be supported.
However, as this year’s official starting point for the transition to Eth 2.0 nears, there has been interest in staking from across the board, said Tim Lowe, the product manager of Codefi Staking.
“We have also been talking to some of the newer banks, the kind of challenger banks in the space, and they are definitely interested,” said Lowe. “I think anybody who is holding any crypto assets and is aware of Ethereum generally is starting to look at Eth 2.0 and staking. It’s still early but the interest is there across the board.”
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