RockX, a provider of staking solutions, has established an exclusive partnership with Cactus Custody, the parent company of Matrixport. Through the collaboration, both parties will work to streamline and improve the staking procedure for the advantage of mainline financial institutions in terms of adhering to regulations and enhancing safety.
With staking gaining popularity among institutions that view it as a system that will generate consistent returns, they are encountering certain obstacles. Among them are cybersecurity risks, regulatory barriers, and token slashing risks. With its advanced safety features, Cactus Custody is equipped to resolve these concerns adequately.
The implementation of the Shapella Upgrade has contributed to the exponential growth in the volume of staking on Ethereum. Because of this, establishments have begun favoring digital assets because of their potential for profit.
The Trust and Company Service Providers Unit of Hong Kong and the Financial Market Supervisory Authority of Switzerland have both awarded licenses to Cactus Custody, and the company has received a SOC-2 accreditation as well. There are currently over 300 institutional clients who have entrusted the company with securing vast quantities of digital assets spread across more than 30 blockchains. RockX, on its part, renders staking services to over twenty prime tokens and is credited with having gone beyond the USD 1 billion mark with regards to collectively staked assets.
Institutional staking has reached a major milestone with RockX and Cactus Custody’s recent partnership. It will be a safe and simple way to store and manage your digital assets. Together, we can provide clarity in the otherwise murky non-custodial staking procedure.
According to the Head of Cactus Custody, Wendy Jiang, RockX’s advanced blockchain staking system works in complete tandem with their safe asset-control services, providing incomparable yield options for their institutional clients.
According to the chief executive officer of RockX, Chen Zhuling, partnering with Cactus Custody allows institutions to access the space where conventional and decentralized finance overlap. The joint objective of both companies is to pave the way for the transition of conventional finance into the digital asset staking space.
As a global blockchain node network, RockX facilitates user access to Web3. The firm provides superior staking and creation tools for developers across all of the most popular Proof-of-Stake blockchains. Using more than 20 different Layer 1 and 2 networking protocols, RockX has set up an unlimited number of network access nodes. As a result, blockchain technology can gain more widespread use. Over 20 prime tokens, with a total worth of over $1 billion, are held by the company.
Cactus Custody was formally incorporated in 2019. The business provides financial services for digital assets. The company’s goal is to offer reliable institutional custodial services in the digital realm. In addition to meeting capital reserve requirements and AML standards, Cactus Custody is also a qualified custodian and a Hong Kong Trust Company.
Source: https://www.cryptonewsz.com/rockx-and-cactus-custody-unite-to-boost-institutional-crypto-staking/