Capital markets News

SIX Digital Exchange launches Ethereum staking for institutions

etheruem staking

Today the SIX Digital Exchange (SDX) announced the launch of its non-custodial Ethereum staking service for institutions. Between September 10 and 20, the Ethereum Merge will take place, migrating the blockchain from energy-hungry Proof of Work to Proof of Stake.

SDX’s solution enables institutions to securely manage Ethereum validator nodes through an API-based infrastructure to earn yield from staking. It’s in the process of signing its first client in the Swiss private wealth sector.

“The integration tools developed by SDX coupled with our experience operating in institutional markets, give our clients easy access to Ethereum staking capabilities with the highest security and reliability standards,” said Alex Smith, SDX Web3 Staking Product Lead.  

While SDX initially launched in November targeting tokenization of equity, bonds and real world assets, in June it unveiled its web3 services that include digital asset custody and crypto staking.

Most staking services are offered by startups, and we believe this one is offered through an integration with Fireblocks, the company that started out in digital asset custody and also provides a trading network. In turn, Fireblocks’ platform has integrated with several staking services, including Blockdaemon and Staked. Fireblocks was one of the first to offer institutional staking services.

Fireblocks competitor Anchorage also offers institutional staking services, as does Coinbase Prime for U.S. institutions.

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