Foundry, a subsidiary of Digital Currency Group (DCG) and a cryptocurrency mining and consulting company in Rochester, New York, announced the launch of a new platform called Foundry Staking on Wednesday. The company stated that the product currently supports 20 blockchain networks and will provide digital asset mortgage and consulting services in the future.

Foundry launches staking service

Headquartered in New York foundry A number of initiatives have been taken in 2021 and cooperation with various crypto mining businesses.Company likes Hut8, Bit farm, Greenwich, Recently, many other companies have joined forces with Foundry.In addition, in terms of Bitcoin hash rate, the company’s mining pool Foundry USA is The fourth largest mining pool At the time of writing, it is running at 12.67% of the network hash today. On November 11, 2021, the hash rate of the American Foundry mining pool was 20.72 exahash (EH/s) per second.

The new platform is called OEM stakeout The announcement detailed the “white glove service provided to institutions around various Proof of Stake (PoS) blockchain networks”. So far, the service covers 20 blockchains, including PoS networks such as Horizen, Solana, Helium, Flow, Livepeer, Near Protocol, Provenance, and The Graph. Basically, participants can get PoS rewards from Foundry’s service connection with different networks. The company hopes to make the staking PoS network “more accessible to institutions.”

“We have invested heavily in engineering talent and PoS infrastructure to replicate our mining success in the fast-growing staking industry,” Foundry CEO Mike Colyer said in a statement to Bitcoin.com News . “Foundry will continue to support the development and growth of the Staking team, agreement, and company, strengthen the global PoS network and create maximum value for our customers.”

Today, there are billions of dollars in stakes in the PoS protocol — Foundry-approved institutions need staking services and an “evolving environment”

Statistical data Data from defillama.com shows that billions of dollars of crypto assets are now pledged through various PoS protocols. The Foundry Staking product is provided for institutions, and the press release states that Foundry stated that it maintains “the privacy of institutional customers.” According to the Foundry team, the company is cooperating with an all-in-one prime brokerage firm. Genesis, In order to provide fund management services, such as “high security custody, actionable insight into fund management, mortgage strategy and portfolio diversification”.

Adam Nemec, vice president of business development at Foundry Staking, stated in detail that the company recognizes that institutions have a demand for these services. “In 2020, our engineering team began to build our pledge solution from the ground up to pledge our own assets and support DCG. Now, after more than a year of training and battle testing our solution, we are very happy to This first-class product is brought to other institutions,” Nemec said.

How do you think Foundry provides pledge services for 20 different blockchains? Please tell us your thoughts on this topic in the comments section below.

Image Source: Shutterstock, Pixabay, Wikimedia Commons