DV Chain Joins Northstake’s Transformative Tokenized ETH Staking Initiative
We are thrilled to announce a new strategic partnership between NORTHSTAKE and DV Chain 🎉
DV Chain is now one of the first leading market makers to join NORTHSTAKE’s tokenized #ETH staking solution. ETFs or regulated funds can now utilize tokenized staking to bring in liquidity when unbonding ETH. This is enabled by the participating #marketmakers buying the validator node’s balance of #ETH, effectively paying liquid ETH for a #validator node balance subject to the exit and withdrawal queue.
Jesper Johansen, CEO of NORTHSTAKE, said: “Today’s news sees several key market makers joining Northstake to create the only compliance-focused ETH validator marketplace for institutional investors. We’re very excited to see how industry-leading market makers contribute to the wider adoption of tokenized ETH staking.”
The move to launch #tokenizedETH staking on the #Ethereum mainnet was expedited, following the success of the Holesky testnet pilot launched in May 2024. This testnet pilot was run in collaboration with 3iQ Corp, CoinFund, and CoinDesk. As of April 2024, more than $109 billion worth of ETH has been staked, with institutional investors contributing significantly to this figure.
Michael Rabkin, Global Head of Business Development, DV Chain: “We are thrilled to be part of Northstake’s innovative tokenized ETH staking initiative. This partnership allows us to help enhance liquidity for institutional Ethereum stakers. Northstake’s solution perfectly complements our commitment to delivering advanced and secure financial services in the digital asset sector. We look forward to driving the broader adoption of tokenized ETH staking and supporting the institutional crypto ecosystem.”
For the full press release, click here: https://markets.ft.com/data/announce/detail?dockey=600-202405301059PR_NEWS_EURO_ND__EN27207-1
