1. BITBILIHome
  2. Article

German financial giants to roll out fully-insured crypto staking in 2024

• 131 views

TL;DR Breakdown

  • Boerse Stuttgart Digital and Munich Re Group have announced a collaboration to launch a fully-insured crypto staking service aimed at institutional investors, set for release in 2024.
  • The service aims to minimize “slashing risks” and will be an extension of Boerse Stuttgart Digital’s existing custody services, setting a new standard for staking security in Europe.
  • The initiative is designed to serve as an alternative revenue stream for institutional investors, particularly in the proprietary trading sector, and comes amidst a growing trend of financial institutions integrating cryptocurrencies.

Description

Boerse Stuttgart Digital and Munich Re Group have revealed plans to introduce a fully-insured crypto staking service by 2024. Aimed at institutional investors, this initiative is set to redefine staking security standards across Europe. Boerse Stuttgart Digital, a fully regulated entity in Germany, underwent meticulous evaluation by Munich Re Group to finalize this staking solution. … Read more

Boerse Stuttgart Digital and Munich Re Group have revealed plans to introduce a fully-insured crypto staking service by 2024. Aimed at institutional investors, this initiative is set to redefine staking security standards across Europe.

Boerse Stuttgart Digital, a fully regulated entity in Germany, underwent meticulous evaluation by Munich Re Group to finalize this staking solution. The service aims to mitigate “slashing risks” through specialized insurance coverage. Boerse Stuttgart Digital Custody, operated by blocknox GmbH, will expand its existing services to include this new staking offering. Additionally, the company is partnering with Staking Facilities Stuttgart to develop this insured solution.

Positive implications for institutional investors

The service is designed to serve as an alternative revenue stream, particularly for institutional investors in the proprietary trading sector. Dr. Oliver Vins, Managing Director of Boerse Stuttgart Digital, expressed enthusiasm about the strengthened relationship with Munich Re. He emphasized the growing interest from institutional investors for a secure and insured staking environment. Dr. Andre Knoerchen, Head of New Tech Underwriting at Munich Re, lauded Boerse Stuttgart Digital for its focus on strategic and regulatory compliance.

This collaboration comes amidst a broader trend of financial institutions integrating cryptocurrencies. Earlier this week, Deutsche Bank announced a partnership with Taurus for digital asset custody, and HSBC revealed a collaboration with crypto custody firm Fireblocks. These moves highlight the increasing acceptance of cryptocurrencies and the need for secure, regulated investment options.

In summary, the planned fully-insured crypto staking service is a monumental step in bridging the gap between traditional finance and the crypto world. Slated for a 2024 release, the service aims to offer a secure and reliable investment avenue, setting a new benchmark for staking security in Europe. This initiative could serve as a blueprint for similar services worldwide, further solidifying the role of cryptocurrencies in the global financial landscape.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

文章来源于互联网:German financial giants to roll out fully-insured crypto staking in 2024

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年9月17日 01:27
Next 2023年9月17日 02:02

Related articles

  • Top crypto tweets of the day – August 30th

    Description Contents hide 1 Bitcoin’s exchange supply was boosted significantly just prior to Grayscale’s win 2 DCG claims to have reached an in-principle agreement on its debt 3 ETF approval could open the floodgates and allow the everyday investor to get bitcoin 4 Total global wealth in terms of Bitcoin 5 Bitcoin fear and greed index … Read more Contents hide 1 Bitcoin’s exchange supply was boosted significantly just prior to Grayscale’s win 2 DCG claims to have reached an in-principle agreement on its debt 3 ETF approval could open the floodgates and allow the everyday investor to get bitcoin 4 Total global wealth in terms of Bitcoin 5 Bitcoin fear and greed index is 49 — neutral 6 Art NFTs have been the best-performing ETH NFT sector since 2022 7 Bitcoin ETF conversion of GBTC could draw “massive adoption” 8 Friend.tech loses growth steam 9 GBTC continues to narrow down 10 Traditional Finance players are gradually joining the crypto bandwagon 11 Over 92 million Worldcoin tokens set for unlock 12 OpenAI’s posts 37x growth in revenue 13 Whales &…

    Article 2023年8月31日

  • SEC turns its attention to NFTs – The latest moves

    TL;DR Breakdown The SEC is intensifying its scrutiny on the crypto realm, especially NFTs. The adult animation Stoner Cats raised $8 million by selling NFTs, attracting SEC’s attention. Star-studded involvement included names like Mila Kunis, Ashton Kutcher, and Vitalik Buterin. Description While venture capitalists have begun to show less interest in the glowing allure of non-fungible tokens (NFTs), the U.S. regulatory arena, led by the SEC, is diving deep into the intricacies of the crypto industry. The recent spotlight has especially targeted the entanglement of digital assets with popular culture, exemplified by a peculiar case involving … Read more While venture capitalists have begun to show less interest in the glowing allure of non-fungible tokens (NFTs), the U.S. regulatory arena, led by the SEC, is diving deep into the intricacies of the crypto industry. The recent spotlight has especially targeted the entanglement of digital assets with popular culture, exemplified by a peculiar case involving animated stoned cats and Hollywood celebrities. The Stoner Cats Saga and the SEC’s Stance The curious tale begins with the Stoner Cats, an adult animation detailing…

    Article 2023年9月16日

  • XRP poised for upside potential following court ruling, Santiment suggests

    TL;DR Breakdown Santiment suggests that XRP has significant upside potential following a court ruling that its sales do not constitute securities. The court ruling led to a rally in XRP’s price, reaching a 15-month high, and an increase in discussions related to the digital asset. Whale and shark activity on the XRP network further support the positive momentum, signaling the potential for continued growth. However, caution is advised as the rally may be subject to overreaction. Description After a recent court ruling that determined Ripple Labs’ automated, open-market XRP sales did not qualify as the sale of securities, cryptocurrency analytics platform Santiment outlined the path forward for XRP. The court ruling sparked a significant rally for XRP, with the digital asset surging over 70% to reach a 15-month high. As a result, … Read more After a recent court ruling that determined Ripple Labs’ automated, open-market XRP sales did not qualify as the sale of securities, cryptocurrency analytics platform Santiment outlined the path forward for XRP. The court ruling sparked a significant rally for XRP, with the digital asset surging…

    Article 2023年7月16日

  • Founder of defunct Turkish crypto exchange Thodex sentenced to over 11,000 years in prison

    TL;DR Breakdown Faruk Fatih Özer, the founder of the now-defunct Turkish cryptocurrency exchange Thodex, along with his sister Serap Özer and brother Güven Özer, has been sentenced to a staggering 11,196 years, 10 months, and 15 days in prison, as reported by local media. Thodex abruptly ceased operations in April 2021, leaving over 400,000 users bewildered and unable to access their deposits, which amounted to a staggering $2 billion in various cryptocurrencies. Description Faruk Fatih Özer, the founder of the now-defunct Turkish cryptocurrency exchange Thodex, along with his sister Serap Özer and brother Güven Özer, has been sentenced to a staggering 11,196 years, 10 months, and 15 days in prison, as reported by local media. In addition to the prison sentences, the court imposed a judicial fine of … Read more Faruk Fatih Özer, the founder of the now-defunct Turkish cryptocurrency exchange Thodex, along with his sister Serap Özer and brother Güven Özer, has been sentenced to a staggering 11,196 years, 10 months, and 15 days in prison, as reported by local media. In addition to the prison sentences, the…

    Article 2023年9月9日

  • Cboe amends Bitcoin ETF filing after surveillance agreement with Coinbase

    TL;DR Breakdown Cboe Global Markets has revised its Bitcoin ETF filing to incorporate its surveillance sharing agreement with Coinbase. Coinbase agreement boosts investor sentiment amid a legal battle with the SEC. Description Cboe Global Markets, a prominent exchange operator, has made revisions to five spot Bitcoin (BTC) Exchange-Traded Fund (ETF) applications by incorporating a surveillance-sharing agreement (SSA) with Coinbase. The Cboe ETF amendments were submitted to the United States Securities and Exchange Commission (SEC) on July 11. The ETFs in question are proposed by Invesco, VanEck, WisdomTree, … Read more Cboe Global Markets, a prominent exchange operator, has made revisions to five spot Bitcoin (BTC) Exchange-Traded Fund (ETF) applications by incorporating a surveillance-sharing agreement (SSA) with Coinbase. The Cboe ETF amendments were submitted to the United States Securities and Exchange Commission (SEC) on July 11. The ETFs in question are proposed by Invesco, VanEck, WisdomTree, Fidelity, and a joint fund by ARK Invest and 21Shares. Cboe confirms surveillance sharing agreement with Coinbase Cboe confirmed that it has reached an agreement with Coinbase to establish the surveillance-sharing agreements. The settlement between…

    Article 2023年7月13日
TOP