Mentioned:
Galaxy Digital wants to take over the opportunity in staking digital assets in Europe. And they are partnering with one of the world’s leading crypto custodians to do it.
What’s happening:
- Galaxy Digital (TSX: GLXY) has formed a new partnership with Zodia Custody to expand their staking capabilities for institutional investors in Europe
Why it matters:
- This is the second major partnership Galaxy Digital has entered into with a digital asset custodian, after previously striking a deal with BitGo focused on providing secure and regulated access to staking yields
Going deeper:
- The new partnership between Zodia Custody and Galaxy Digital will also enable Zodia Custody’s clients to be able use their staked digital assets as collateral for loans and financial products, which will be managed by Galaxy Digital’s trading business
- Zodia Custody is fully regulated and compliant within Europe and has landed multiple notable investors, including Standard Chartered, Northern Trust and SBI Holdings
- Galaxy Digital is currently managing the staking of over $4B USD of digital assets and operates one of the largest validators on the Solana network
The intrigue:
- Galaxy Digital also just recently launched a new Solana ETF on the Toronto Stock Exchange in partnership with CI Global Asset Management which will see Galaxy Digital managing all of the staking and trading of Solana
