Fireblocks Introduces Staking Rewards for Polkadot, Tezos, Eth 2.0
- Fireblocks has rolled out staking services for Polkadot, Tezos, and Ethereum 2.0.
- The company’s enterprise and institutional clients will be able to increase their yield by 5% to 15%.
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Crypto custodian Fireblocks has partnered with staking infrastructure providers Staked and Blockdaemon to offer new staking services.
Fireblock’s proof-of-stake capabilities will debut with initial support for Polkadot (DOT), Tezos (XTZ), and Ethereum 2.0. The services will be available to its 165 enterprise and institutional clients, Fireblock said in a press release.
The new service will leverage Fireblock’s multi-party computation (MPC) wallet technology to manage staking rewards. Michael Shaulov, the CEO of Fireblocks, said there had been an increase in demand from customers requesting staking services. Partnering with Staked and Blockdaemon will enable Fireblock’s clients to enhance their yield by 5% to 15%, he added.
Starting from 14 January, Fireblock’s customers will be able to stake DOT, XTZ, and ETH 2.0 tokens from all of its platforms. Fireblocks noted that the staked assets would be safe from cyber attacks, internal collusion, and human error. The platform’s users will have full custody of their funds in Fireblock’s MPC-based wallets, while Staked and Blockdaemon’s platforms will provide the interface for monitoring staking rewards.
The company said it would continue to add support for additional PoS protocols in 2021.
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- The solution offers quick access to fiat-to-crypto conversion, cross-border internal settlement, micropayments, and merchant adoption with lower processing fees.
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