Crypto Garage adds staking service to its Institutional Digital Asset Custody
Crypto Garage has launched an Ethereum (ETH) staking service that complements their existing institutional digital asset custody service “SETTLENET CUSTODY”, which will allow clients to earn rewards on their ETH holdings while securely stored in custody.
Staking refers to the mechanism where users deposit their cryptocurrency holdings into a blockchain network to contribute to its operation and in return, receive rewards. By staking ETH, for instance, individuals help secure the network and contribute to the validation of transactions, thus playing a significant role in the success of the ETH blockchain.
Crypto Garage has been providing blockchain-related payment services and associated products to Japanese and overseas professional cryptocurrency trading companies with “SETTLENET”. In June 2021, it completed registration with the Kanto Finance Bureau as a cryptocurrency exchange operator based on the Payment Services Act, with the aim of providing brokerage services for transactions between Japanese cryptocurrency exchanges and overseas cryptocurrency trading companies.
In April 2023, it launched a digital asset custody service “SETTLENET CUSTODY”. In “SETTLENET CUSTODY,” Crypto Garage holds customers’ digital assets in an secure environment. Assets are segregated for each customer and backed by world class, battle-tested and peer-reviewed security.
Through the “SETTLENET CUSTODY” service, Crypto Garage has decided to offer staking services as part of its expanded functionality to meet the needs of more clients.
With the transition of ETH to PoS in 2022, staking is gaining popularity among investors as a feature for asset management using crypto assets. Crypto Garage plans to expand its staking service to other crypto assets using PoS in order to provide more revenue opportunities to its customers.
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