Galaxy Digital, a leading blockchain conglomerate, has announced a strategic partnership with Zodia Custody, an institutional-grade blockchain services provider, to enhance its staking offerings in Europe. This collaboration allows Zodia’s clients to earn staking rewards while retaining custody of their digital assets, ensuring compliance with regional regulatory requirements.
A Strategic Move to Strengthen Institutional Offerings
Zodia Custody, backed by prominent financial institutions like Standard Chartered, Northern Trust, SBI Holdings, National Australia Bank, and Emirates NBD, is a trusted custodian in the European market. By integrating Galaxy Digital’s staking infrastructure, Zodia enables its institutional clients to access yield-generating opportunities without compromising security or control over their assets.
“Expanding our footprint in Europe is a strategic priority,” Galaxy’s head of blockchain infrastructure, Zane Glauber, said in a statement:
“By combining Zodia Custody’s security and risk framework with Galaxy’s market-leading staking and trading capabilities, we’re providing institutions with a differentiated and streamlined way to participate in digital asset staking while remaining aligned with regional custody and regulatory requirements.”
This partnership lays the groundwork for future collaborations, including advancements in exchange-traded products (ETPs) that incorporate staking, lending, and other yield-bearing instruments.
Galaxy Digital’s Growing Influence in the Staking Ecosystem
Galaxy Digital is a major player in the crypto staking ecosystem, managing approximately $4.2 billion worth of staked digital assets. The company recently solidified its position as the top Solana validator as of June 2024, following its acquisition of 3 million SOL tokens from the FTX estate sale.
In February, Galaxy also partnered with BitGo Trust, enabling BitGo clients to leverage Galaxy’s staking infrastructure. According to The Block, nearly half of BitGo’s business revolves around staking, highlighting the growing importance of this service in the institutional crypto space.
Preparing for Future Growth
Galaxy Digital is poised to further expand its presence in the global market by pursuing an uplisting to the Nasdaq in May. This move underscores the company’s ambition to attract broader institutional investment and strengthen its reputation as a leader in the blockchain industry.
The partnership with Zodia Custody is a key step in achieving this goal, particularly in Europe, where regulatory compliance and institutional-grade security are critical for adoption. By combining Galaxy’s expertise in staking and trading with Zodia’s robust custody solutions, the collaboration addresses the unique needs of institutional investors in the region.
Final Thoughts
The integration of Zodia Custody into Galaxy Digital’s staking ecosystem marks a significant milestone in the company’s efforts to expand its European operations. By offering secure, compliant, and yield-generating solutions, Galaxy is well-positioned to meet the growing demand for institutional-grade digital asset services.
As the crypto landscape evolves, partnerships like this demonstrate the potential for innovation and collaboration in bridging traditional finance with decentralized technologies.
