Staked, a New York-based startup that helps institutional investors stake or lend their holdings in proof-of-stake cryptocurrencies, announced Thursday the closing of a $4.5 million seed round led by Pantera Capital.
We are excited to announce our $4.5M seed round!https://t.co/qgco7sQv3K
— Staked (@staked_us) January 31, 2019
According to the announcement, Staked provides the secure infrastructure required for staking and the company’s services currently support 6 cryptocurrencies including Tezos (XTZ), Dash (DASH), Decred (DCR), Livepeer (LPT), Factom (FCT), and EOS (EOS).
Notably, Pantera Capital revealed that it made the decision to invest in Staked after first approaching the startup for its services.
“Pantera invests in many leading proof-of-stake projects, so we knew we needed a staking solution,” said Paul Veradittakit. “We liked Staked because of the experienced team, focus on institutions, and broader vision around helping investors earn yield on their cryptocurrency.”
Staked notes that it will add support for other passive opportunities, like lending, in the first quarter of 2019. Ultimately, Staked hopes to support 20 crypto assets by the end of the year.
Other firms participating in the round include Coinbase Ventures, Winklevoss Capital, Global Brain, Digital Currency Group, Fabric Ventures, Applied Crypto Ventures and Blocktree Capital.
More: Staked Raises Seed Round to Help Investors Compound Their Crypto Assets
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Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.