ChainUp Custody Forms Partnership with Babylon to Facilitate Institutional Engagement in Bitcoin Staking
In Brief
ChainUp Custody has joined forces with the Bitcoin staking platform Babylon to provide institutional investors with a novel avenue for participating in Bitcoin staking activities.
Custody services provider ChainUp Custody Announced a new strategic alliance with a Bitcoin staking protocol. Babylon This collaboration is designed to provide institutional investors with an innovative approach to Bitcoin staking.
Babylon is a protocol designed for Bitcoin holders, allowing them to get involved in staking while contributing over $1.3 trillion in economic support to various networks, all in exchange for earning staking returns. This presents a secure and lucrative option for BTC holders looking to bolster the wider blockchain ecosystem.
Through this partnership, ChainUp Custody has integrated the Babylon protocol into their ChainUp multi-party computation (MPC) wallet, creating a user-friendly platform for staking.
Moreover, this collaboration enables Babylon to provide a fresh way for users to generate income by incorporating Bitcoin into the Proof-of-Stake (PoS) framework, which enhances both security and decentralization, drawing in more participants. This partnership aims to enhance asset safety by reducing the possibility of asset loss while boosting operational effectiveness. Babylon’s intuitive API streamlines Bitcoin staking management for clients, helping to conserve both time and resources. Additionally, it opens up pathways for greater income generation, allowing institutional clients to achieve stable passive income and better allocate their assets.
Users will be able to access the Babylon Through the Babylon Staking API, users can stake Bitcoins and reap returns. The API facilitates processes for staking, unstaking at maturity, and early withdrawals. In the next phase, ChainUp plans to implement a console staking feature within its MPC wallet.
A Blockchain Solutions Provider Empowering Enterprises with Cutting-Edge Blockchain Technology
ChainUp Custody stands out as a leading blockchain solutions provider, committed to enabling businesses through the power of blockchain technology. It delivers a variety of services and solutions aimed at minimizing risk and enhancing the efficiency of their clients' digital assets. Their extensive range of compliant offerings includes everything from digital asset exchanges and Know Your Transaction (KYT) services to NFT trading, wallet management, liquidity solutions, Web3.0 infrastructure, digital asset custody, and security token offerings (STOs), among others.
Last year, the firm earned the prestigious title of 'Best Institutional Custody & Asset-Service Solution' within the Digital Assets category. This accolade underscores its cryptocurrency solutions, which feature a bank-grade security framework along with advanced legal and compliance safeguards tailored to the needs of regulated clients.
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